Wednesday, 12 December, 2018

RBI keeps repo rate unchanged at 6.5%, lowers inflation forecast sharply

RBI to announce its fifth bi-monthly monetary policy review of the current financial year this afternoon Monetary policy review: RBI keeps repo rate unchanged at 6.5%
Rhonda Young | 05 December, 2018, 16:12

In its last bi-monthly monetary policy, the bank had kept the repo rate unchanged at 6.5 percent. Five out of the six-member Monetary Policy Committee (MPC) voted in favour of keeping the repo rate unchanged at 6.50 percent and the reverse repo rate at 6.25 percent.

While the Statutory Liquidity Ratio now remains unchanged at 19.5%, the RBI has said it will be gradually reduced to 18% over the next six quarters. Currently, SLR stands at 19.5 percent.

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

3-way tie for lead in Bahamas with Woods at the bottom
Jon Rahm grew up idolizing Tiger Woods , so earlier this fall during the Tour Championship he made the most of an opportunity. And now this Sunday, Rahm round off 2018 with yet another fantastic year. "I've been out here for 20-some odd years".

RBI changed the policy stance to "calibrated tightening" from "neutral", while affirming its commitment to achieve the medium-term objectives to contain price rise.

The RBI had previously projected inflation at 3.9-4.5 percent by the end of March and at 4.8 percent for the first quarter of FY20, citing risks from rising crude oil prices, possible fiscal slippages in an election year, global market volatility. RBI governor Urjit Patel had said calibrated tightening essentially meant that during this cycle, a rate cut would not be considered and that the central bank was not bound to increase rates at every policy meeting.

What could be RBI's likely rate action? It noted that although Q2 growth was lower than that projected in the October policy, GDP growth in H1 has been broadly along the line in the April policy.

Kanye West slammed for using cellphone at Cher Broadway show
Kardashian West has dressed as Cher for Halloween and in May traveled to Las Vegas to see the 72-year-old singer perform. The Cher Show is now running at the Neil Simon Theatre in New York City .

SLR is the reserve requirement that the commercial banks in India are required to maintain in the form of cash, gold reserves, government-approved securities before providing credit to the customers.

Measures to Improve liquidity management by banks: In order to enable banks to forecast their liquidity requirements with a greater degree of precision, it has been decided that RBI will provide information on daily CRR balance of the banking system to market participants on the very next day.

NSW teen shatters records with historic double ton
The teenager, Oliver Davis whacked six sixes in an over to smash quite a few records in the game of cricket. Meanwhile, Davies' knock was also the first one-day double-century ever scored in the U19 competition.

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