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Old August 10th, 2012, 10:37 AM
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Default RBI Policy Rate Hike

I want to know that why reserve bank of India hike the policy rate please tell me about it because I am also invest in its policy so I want to know about it?
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Old August 10th, 2012, 01:04 PM
Educhamp's Avatar
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Join Date: May 2011
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Default Re: RBI Policy Rate Hike

According to Moneycontrol.com website, “The Reserve Bank of India (RBI) has raised the benchmark interest rates by quarter of a percent point on Tuesday, while keeping cash reserve ratio (CRR) rate unchanged at 6%.

Meanwhile, the adjusted reverse repo now stands at 7.5%.

The rate hike was not taken too well by the market, giving up their early morning gains.

The RBI has also revised down its growth forecast for the fiscal year ending in March to 7.6% from 8% with a downside bias earlier, while sticking with its forecast that headline wholesale price index inflation will ease to 7% at the end of the fiscal year.

The likelihood of a rate move at its December review is "relatively low," the RBI said in a statement.”

For more news you have to go on Moneycontrol.com website.
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