RBI Monetary Policy June 2016 Live Update – No change in Rates

RBI Monetary Policy June 2016 Live Update – No change in Rates

During RBI’s monetary policy review today, Raghuram Rajan kept repo rates unchanged at 6.5% and also kept CRR at existing 4%.

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RBI Monetary Policy June 2016 Live Update - No change in Rates

Reserve Bank of India Governor Raghuram Rajan on Tuesday maintained status quo on key rates and kept repo rates unchanged at 6.5 per cent in its bank’s bi-monthly monetary policy review.
He cited higher upside risks to’inflation trajectory’ for keeping the rates unchanged, but said the central bank will remain accommodative provided data are supportive.

Below are the live updates from RBI’s monetary policy review and Raghuram Rajan’s press conference on June 7, 2016

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  • We have enough dollars to supply if need be, says Rajan
  • We have no desire to move the rupee in any direction, says Raghuram Rajan
  • Will be cruel of me to spoil the fun press has been having over my tenure, says Raghuram Rajan. He added tenure issue will be known at an appropriate time after discussion between the govt and the current incumbent
  • RBI to monitor rupee and dollar liquidity and act accordingly. Will provide rupee liquidity as market requirement, says Raghuram Rajan
  • RBI says rising crude prices and implementation of 7th pay commission pose upside risk to inflation
  • RBI to soon review implementation of marginal cost lending rate framework by banks
  • Early days for transmission of interest rates and MCLR regime
  • Domestic conditions for growth are improving gradually, mainly driven by consumption demand,
  • Public investment stronger, private investment weakness worrisome, says Raghuram Rajan
  • Keeps key rates on hold, but to continue with accommodative stance going forward
  • January 17 CPI inflation target unchanged at 5 per cent
  • FY17 GDP growth target unchanged at 7.6 per cent
  • Good monsoon can soften inflation
  • Inflation upside risk in FY17
  • CRR unchanged at 4%
  • Sensex jumped 116.88 points up at 26,894.33, while NSE Nifty surged 23.25 points to 8,224.30 after RBI kept key rates unchanged