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    HomeNewsEconomyPolicyFull text of RBI's third bi-monthly Monetary Policy statement for 2017-18

    Full text of RBI's third bi-monthly Monetary Policy statement for 2017-18

    In line with street expectation, the RBI reduced the repo rate by 25 bps to a 6-1/2 year low of 6 percent.

    August 02, 2017 / 15:09 IST

    The Reserve Bank of India (RBI) on Wednesday cut the repo rate by 25 basis points (bps) to 6 percent.

    In the bi-monthly statement, the central bank said its decision is consistent with the neutral stance of  monetary policy "in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent within a band of +/- 2 per cent, while supporting growth."

    Below is the complete text of the third bi-monthly monetary policy statement for 2017-18.

    first published: Aug 2, 2017 03:07 pm

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