New Delhi: Governor of Reserve Bank of India (RBI) D Subbarao will release the first quarter (April-June) monetary policy 2011-12 review on July 26, 2011. The review statement will be made in a meeting with the chief executives of major scheduled commercial banks at 11.00 a.m. on July 26, 2011 at the central office of RBI in Mumbai, it said in a statement. In the RBI's mid-quarter review held on June 16, it raised key policy rates by 25 basis points to tame surging inflation by curtailing demand in the country. With the latest policy rate hike – the 10th time since March 2010 – the central bank took its short-term lending (repo) rate to 7.5% and the short-term borrowing (reverse repo) rate to 6.5%. The RBI was unequivocal in maintaining an anti-inflationary stance going forward even at the cost of affecting growth in its latest review. India's headline inflation, which is partly being impacted by high crude oil prices in the international market, has been hovering around 9%, higher than RBI's comfort level of 5%-6%. For the month of May, headline inflation accelerated to 9.06% on-year, faster than 8.66% on-year price rise recorded in April.
http://banking.contify.com/story/rbi-announce-q1-monetary-policy-2011-12-review-jul-26
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
No comments:
Post a Comment