Reserve Bank Of India

Topics: Inflation, Monetary policy, Central bank Pages: 2 (1379 words) Published: March 6, 2015
 
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Date : 04 Mar 2015

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Statement by Dr. Raghuram G Rajan, Governor, on Monetary Policy It  may  be  recalled  that  in  its  statement  on  monetary  policy  of  January  15,  2015  the  Reserve  Bank reduced the policy repo rate by 25 basis points and indicated that ““Key to further easing are data that confirm  continuing  disinflationary  pressures.  Also  critical  would  be  sustained  high  quality  fiscal consolidation…”.While  maintaining  the  interest  rate  stance  in  its  sixth  bi­monthly  monetary  policy statement  of  February  3  in  the  absence  of  new  developments  on  inflation  or  on  the  fiscal  outlook  till then,  the  Reserve  Bank  indicated  that  it  will  keenly  monitor  the  revision  in  the  consumer  price  index (CPI) with regard to the path of inflation in 2015­16 as well as the Union Budget for 2015­16. Data Developments

The new CPI rebased to 2012 was released on February 12, 2015. Inflation in January 2015 at 5.1 per cent as measured by the new index was well within the target of 8 per cent for January 2015. Prices of vegetables  declined  and,  hearteningly,  inflation  excluding  food  and  fuel  moderated  in  a  broad­based manner  to  a  new  low.  Thus,  disinflation  is  evolving  along  the  path  set  out  by  the  Reserve  Bank  in...

Links: Statement by Dr. Raghuram G Rajan, Governor, on Monetary Policy
It  may  be  recalled  that  in  its  statement  on  monetary  policy  of  January  15,  2015  the  Reserve  Bank
Data Developments
The new CPI rebased to 2012 was released on February 12, 2015. Inflation in January 2015 at 5.1 per
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