News Details

( 07/12/2017 09:36)
FinMin, RBI on same page on neutral policy stance

The Ministry of Finance of Wednesday said that the Monetary Policy Committee’s (MPC) neutral policy stance is recognition of under-control inflation.

“The MPC recognized that inflation remains firmly under control, retaining its inflation projection for the second half of FY 2018 and assessing that the risks to this projection are evenly balanced. For that reason, it has maintained a neutral policy stance,” according to a statement released by the Ministry of Finance.

The MPC has also retained its annual GVA forecast for FY 2018 of 6.7 per cent recognizing several significant developments and emphasizing the Government’s reform efforts such as GST, Bank Recapitalization Package and improving Ease of Doing Business Ranking.

The Monetary Policy Committee (MPC) in its fifth bimonthly policy statement kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent. Consequently, the reverse repo rate under the LAF remains at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.25 per cent.

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