Mumbai: Following are the highlights of the RBI's 5th bi-monthly monetary policy statement of 2019-20:-
- Repo rate or short-term lending rate unchanged at 5.15%
- GDP growth forecast lowered for current fiscal to 5% from 6.1% earlier
- Various high frequency indicators suggest demand conditions remained weak
- RBI continues with accommodative monetary stance to revive growth
- Recognises that there is monetary policy space for future action
- Retains retail inflation projection for second half of year raised to 5.1-4.7%
- RBI notes monetary transmission to improve going forward
- Foreign exchange reserves stood at USD 451.7 bn on Dec 3, up USD 38.8 bn over March-end 2019
- All members of the rate-setting Monetary Policy Committee (MPC) voted for rate pause
- Next monetary policy review meet scheduled during February 4-6, 2020.
Read more:RBI sharply lowers growth projection to 5% for current fiscal
