RBI Keeps Rates Unchanged
February 1st, 2008
1) Bank Rate kept unchanged at 6 percent.
2) The reverse repo rate and the repo rate unchanged at 6 percent and 7.75 percent, respectively
3) CRR kept unchanged at 7.5 percent.
4) GDP growth projection for 2007-08 is 8.5 percent.
5) The policy endeavour would be to contain inflation close to 5 percent in 2007-08 while conditionig expectations in the range of 4-4.5 percent.
6) Loan growth slows; but money supply and aggregate deposits continue to expand well above indicative projections