What's NewAs widely expected, MPC maintains Status quo on repo rates at 6.5%.

In the fifth bi-monthly policy meet in 2018, RBI offered no surprises and maintained status quo, holding policy repo rate at 6.5%. The Monetary Policy Committee (MPC), kept the benchmark policy rate unchanged, on account of fall in crude oil prices, stability in the rupee and lower-than expected inflation level since the last meeting. The Central bank also indicated that it would lower bank's SLR (mandatory bond holding levels by banks) by 25 bps every quarter from Q1 FY19. This decision should allow banks to lend more. (December 5, 2018)

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As widely expected, MPC maintains Status quo on repo rates at 6.5%.

In the fifth bi-monthly policy meet in 2018, RBI offered no surprises and maintained status quo, holding policy repo rate at 6.5%. The Monetary Policy Committee (MPC), kept the benchmark policy rate unchanged for the second consecutive time, on account of fall in crude oil prices, stability in the rupee and lower-than expected inflation level since the last meeting. Consequently, reverse repo rate was unchanged at 6.25% and marginal standing facility (MSF) rate and bank rate at 6.75%. The dec...

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RBI Survey shows continued waning consumer sentiments in its Nov'18 round.

According to the November round of Consumer Confidence Survey (CCS), a large number of consumers (53.6%) don't expect their economic conditions to improve one year from now. Sentiment towards the future as depicted by the future expectations index (FEI) declined to 120 in November from 121.1 in September, due to lower optimism on employment and household spending scenarios. With regards to employment, the sentiment towards the current period and the future employment situation saw a decl...

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Professional forecasters expect growth to firm up and core inflation to stay above 5% mark.

According to the 55th round of Professional Forecasters (PF) survey, the real GDP is likely to grow at 7.4% year-on-year (YoY) in FY19 (Apr'18-Mar'19) up from the 6.7% YoY in FY18. The PF expects the growth to further accelerate in 2019-20 to 7.5% YoY. The growth-pickup is expected on the back of higher private consumption, as per the 28 forecasters surveyed by the RBI. The industry and agricultural sector are expected to accelerate economic activity in the country with a growth of 7.3% YoY, ...

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India's households' inflation expectations declined moderately in Nov'18

Inflation Expectations Households Survey (IEHS) has been conducted by the RBI on a quarterly basis since 2005 and on a bi-monthly basis since Nov 2016. The Survey mainly aims to capture the households’ expectations regarding changes in price movements and inflation rates in three-month ahead and one-year ahead time period. Qualitative responses related to changes in general prices and prices of specific product groups are collected from across 18 cities, covering over 5,500 households. ...

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December 3 , 2018

Exchange Rate India

Rupee gains against USD in Nov'18 on account of fall in crude oil prices.

The exchange rate of the Indian Rupee(INR) along with other major currencies such as US Dollar, Euro, and Japanese Yen are published by the Reserve Bank of India on a monthly and daily basis. The spot exchange rate specifies how much Indian rupee is equivalent to a unit of the specified currency. The Indian rupee followed a pegged exchange rate system till 1991 after which it was shifted to a floating exchange rate system following an economic crisis in the country. The Nominal Effective Exch...

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