Details from the RBI 04 October 2017

  • Repo rate 6.0% unch
  • Reverse repo 5.75% unch
  • Cash reserve ratio 4.0% unch

Comments;

  • 5/6 MPC voted for keeping rates on hold
  • Ravindra Dholakia voted for a cut of at least 25bps
  • 2017/18 Real gross value added growth revised down to 6.7% vs 7.3% prior
  • Inlfation projections revised up for H2 FY 2017/18. Range now 4.2-4.6% vs 4.0-4.5% prior
  • Says there are factors that continue to impart upside risks to baseline CPI

The full decision is here.

Ryan Littlestone
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