No knee-jerk reaction from Markets to RBI’s monetary policy status quo
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The The central bank said it had decided to:
· keep the policy repo rate unchanged at 7.25 per cent;
· keep the cash reserve ratio (CRR) unchanged at 4.0 per cent.
The policy statement from Mint Street said the outlook for growth was improving gradually as a drop in crude oil prices and falling food inflation helps the economy.
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The RBI added the credit availability in most sectors was adequate.
The RBI said economic recovery in India was work-in-progress.
Nifty gained 9 points to 8,552
Sensex rose 13 points to 28,200
Major Indices recovered from intra-day lows after the Reserve Bank Governor held key policy rates in its monetary policy statement.
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Image credit: Indiatimes
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