RBI Governor D. Subbarao smiles during a monetary policy review meeting in Mumbai. For the second consecutive time, Reserve Bank Governor D Subbarao today left the key interest rat...
The central bank also projected inflation for 2018-19 at 4.8- 4.9% in the first half and 4.7% in the second half of the year. The projection for GDP is 7.5-7.6 in the first half and 7.3-7.4 in the second half.
The Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, had last reduced the benchmark lending rate by 0.25 percentage points to 6 per cent last August, bringing it to a 6-year low.
The retail inflation or consumer price index based- inflation inched up to a seven-month high of 3.58 per cent in October from 3.28 per cent in September.
