RBI maintains status quo: Key takeaways from fifth bi-monthly policy meet

File Pic:PTI

The marginal standing facility (MSF) rate and the Bank Rate stand at 6.75 per cent.

The RBI has cut the inflation projection for second half of FY19 to 2.7%-3.2%.

Will RBI change its outlook on inflation? Oil prices have fallen almost 30 per cent after hitting a high of $86/barrel early October.

The statutory liquidity ratio (SLR) will go down by 25 basis points every quarter from January-March, every calendar quarter, until the SLR reaches 18 percent of the Net Demand and Time Liabilities (NTDL), the policy statement said. Currently, SLR stands at 19.5 percent.

The Reserve Bank of India will announce the fifth bi-monthly monetary policy statement for 2018-19 this afternoon.

The Central Bank of the Republic of Turkey (CBRT) will continue to effectively use all policy instruments at hand to maintain price stability in 2019, according to its new fiscal and monetary policy for the new year announced Wednesday.

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"The monetary policy completely evaluated current and evolving macroeconomic conditions and voted today to maintain status quo while reiterating its commitment to achieving the medium-term target for headline inflation at 4 percent on a durable basis", RBI governor Urjit Patel said in the press conference. The three-day policy review meeting of the Monetary Policy Committee (MPC) headed by Governor Urjit Patel began in Mumbai on Monday.

The central bank has retained the GDP growth projection for 2018-19 at 7.4 per cent.

After back-to-back hikes since June, the RBI had kept interest rates unchanged in October, surprising markets that had expected a rate hike to support the tumbling rupee and combat inflationary pressures from high oil prices.

The RBI also announced an auction of a 12-day Government of India Cash Management Bill. This may inject almost ₹65,000 crore of liquidity into the system.

Expert committee for MSMEs: MSMEs play a key role in the economy but they remain vulnerable to structural and cyclical shocks, given their predominantly informal nature.

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