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RBI policy more dovish than expected; Repo rate unchanged at 4 per cent

Repo was unchanged at 4 per cent and reverse repo at 3.35 per cent. Real GDP growth has been forecast at 7.8 per cent for FY23 versus The Economic Survey 's  8-8.5 per cent.

Published: 10th February 2022 11:13 AM  |   Last Updated: 10th February 2022 12:11 PM   |  A+A-

RBI governor Shaktikanta Das. (File Photo | EPS)

Express News Service

RBI keept benchmark lending rate unchanged at 4 per cent to nurture the economic recovery even amidst rising prices, which the RBI expects to moderate, going forward . The policy stance was kept unchanged also at 'accommodative' .

Repo was unchanged at 4 per cent and reverse repo at 3.35 per cent. Real GDP growth has been forecast at 7.8 per cent for FY23 versus The Economic Survey 's  8-8.5 per cent. Retail price inflation as measured by CPI for FY22 has been pegged at 5.3 per cent with Q4 rise at 5.7 per cent. 

ALSO READ: One Monetary Policy Committee member voted against 'accommodative' stance 

Consumer Price Index for FY 23 is estimated to be at 4.5 per cent with Q1 accounting for 4.9 per cent, 5 per cent for Q2, 4 per cent for Q3 and 4.2 per cent for the last quarter.

Analysts had widely forecast hike in reverse repo by 25 bps and nobody had pencilled in a lower inflation forecast. 

The 6.54 per cent bond yield was down by 5 bps at 6.75% with bond markets rejoicing. 
 



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