RBI increases repo rate by 25 basis points to 6.5 per cent

WION Web Team
Mumbai Published: Aug 01, 2018, 02:44 PM(IST)

Representative image. Photograph:( Zee News Network )

Story highlights

RBI said crude oil prices have moderated slightly, but remain at elevated levels.

The Reserve Bank of India(RBI) today hiked repo rate by 25 bps to 6.50 per cent.

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The reverse repo rate under the liquidity adjustment facility(LAF) now stands adjusted to 6.25% and marginal standing facility rate and Bank rate to 6.75%.

RBI said crude oil prices have moderated slightly, but remain at elevated levels.

RBI's Monetary Policy Committee(MPC) said it wants to maintain headline inflation at 4 per cent, adding that volatility in the global market continues to lead to uncertain inflation situation in the country.

It said the inflation needs to be carefully monitored over the next few months.

The bank projected India's GDP growth for Q1FY20 at 7.5 per cent.

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