Highlights of RBI monetary policy
Following are the highlights of the first bi-monthly monetary policy announced by the RBI on Thursday: * Short-term lending rate (repo) reduced by 25 bps to 6 pc;
* This is second back-to-back rate cut; * RBI maintains Neutral stance on the monetary policy;
* Four out of six MPC members voted in favour of rate cut; * GDP growth projection lowered to 7.2 pc for 2019-20;
* RBI revises downward retail inflation estimate to 2.4 pc in Q4 FY19. * MPC notes output gap remains negative and domestic economy facing headwinds;
* Next monetary policy statement on June 6.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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