Imperative to continue with normalization of rate and system is likely to remain in deficit mode making repo rate the benchmark, says RBI, reports NDTV Profit. Monetary policy works best when liquidity is being injected, it adds, reports the channel.
RBI narrows LAF Corridor to 125 bps versus 150 bps and raises projection for FY'11 GDP growth to 8.5% from 8%, reports NDTV Profit. Real policy rates are not consistent with strong growth and to contain inflation and prevent build-up of inflation pressures, says RBI, reports the channel.
RBI has raised Repo Rate to 5.75% from 5.5% and Reverse Repo Rate has been hiked to 4.5% from 4%, reports CNBC TV18. The Nifty is back in the green with the Sensex trading at 18060 up 40 points from its previous close, and Nifty is at 5428, up 9 points.
RBI hikes Repo Rate by 25 bps and Reverse Repo Rate by 50 bps while CRR remains unchanged at 6%.
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