RBI releases First Bi-monthly Monetary Policy Statement 2018-19

The Reserve Bank of India (RBI) on April 5, 2018 released its First Bi-monthly Monetary Policy Statement 2018-19. After assessing the current and evolving macroeconomic situation in the economy, the six member Monetary Policy Committee (MPC) decided to keep the Repo Rate under the Liquidity Adjustment Facility (LAF) unchanged at 6.0 percent.

Consequently, the Reverse Repo Rate under the LAF remains unchanged at 5.75 percent and the Marginal Standing Facility (MSF) Rate and the Bank Rate at 6.25 percent. Chetan Ghate, Pami Dua, Ravindra Dholakia, Viral Acharya and RBI Governor Urjit Patel voted in favour of the monetary policy decision.

However, Michael Debabrata Patra voted for an increase in the policy rate of 25 basis points. This is the fourth policy review in sequence in which the MPC has kept the Repo Rate unchanged.

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