RBI Monetary Policy - Sep 2011 ::Unicon

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RBI Monetary Policy - Sep 2011

In the backdrop a rise in petrol prices by INR 3.14 per litre (effective from Sep 16,2011), global economic uncertainty, higher commodity prices, RBI continued its monetary tightening measures. The rise in petrol prices to have a direct impact of 7 basis points to WPI inflation, in addition to indirect impact with a lag. RBI raised repo rate by 25 bps to 8.25%. Reverse repo rate under the LAF, determined with a spread of 100 basis points below the repo rate, automatically adjusts to 7.25%, the marginal standing facility (MSF) rate to 9.25 per cent with immediate effect & CRR has been retained at 6%.