Sinking day by day to an all-time low, Rupee has crossed the unbelievable mark of 74 against US Dollar on Friday thus creating a massive disturbance in the stock market. Meanwhile, the RBI has announced its fourth bi-monthly policy rates today thus surprising everyone for the unchanged Repo Rate.
Along with the RBI Policy, MPC was projected to an inflation of 4% during the September quarter while the GDP growth rate was estimated at 7.4%. for the fiscal ending in March 2019.
RBI- truecolumn
While some of the analysts were disappointed with RBI’s move, others welcomed the move by saying that “It’s good that they (RBI) have not raised the rate. It is the time to wait and see”.
However, the government move to cut the fuel prices yesterday by Rs 2.5 has also comforted the RBI on the inflation side.
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