Following its decision to lower the policy repo rate by 25 basis points (bps) at the time of the October 2016 Monetary Policy Report (MPR), the MPC decided to hold the policy rate in the December 2016 and February 2017 meetings of its bi-monthly schedule. Four features distinguish these initial decisions under the new regime.
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The 25 basis points repo rate cut by Reserve Bank of India (RBI) failed to enthuse markets in afternoon trade today. sensex lost 450 points to 39,481 after the RBI announced its monetary policy.
RBI lowers repo rate by 25 basis points to 6.5%. The RBI also introduced a host of measures to smoothen liquidity supply so banks can lend to productive sectors. The cut was broadly in line with expectations. However, the stock market reacted negatively and the BSE index, Sensex, was down nearly 300 points.
The Indian share markets fell sharply and saw biggest one-day fall this year, dragged by banks after the RBI expectedly cut repo rate by 25 bps and changed policy stance to accommodative from neutral. The BSE Sensex plunged 554 points to 39,530 and the Nifty50 slipped 178 points to 11,844.
At the policy review, RBI retained the GDP growth projection for FY 2018-19 at 7.4%, but the Monetary Policy Committee (MPC) took a decision to hike policy repo rate (policy rates) by 25 basis point (bps) to 6.5%. The RBI has hiked policy rates in the wake of rising inflation and the chances of it remaining elevated is even in the second half.
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The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) may reduce the repo rate by 25 basis points (bps) at its upcoming policy review in August 2017, according to credit rating.
The decision to reduce the repo rate was taken by the RBI’s Monetary Policy Committee (MPC) at its second monetary policy review of the ongoing fiscal. Despite the RBI cutting policy rate by 50bp.
Highlights. RBI, in its October monetary policy meet, maintained a status quo and kept the repo rate unchanged at 6.50 per cent; The move came against the Street expectations as most of the.
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Sensex extends losses as rbi holds policy rate. The six-member monetary policy committee (mpc), headed by Reserve Bank of India Governor Urjit Patel, in its bi-monthly monetary policy review kept repo rate unchanged at 6 per cent and reverse repo at 5.75 percent. The Sensex, which had lost 100 points in early trade,