RBI weighs in favour of sustainable economic growth, hikes rates to a 3-year-high of 5.9 per cent, real estate industry reacts
New Delhi [India], October 4 (ANI/PNN): RBI's monetary policy committee (MPC), which determines interest rates, opted to raise the policy repo rate by 50 basis points to 5.9 per cent with immediate effect. This decision was taken after three days-long sessions that concluded on September 30. At the post-monetary policy press conference, the RBI governor said, "There are two components in the monetary policy framework - growth and inflation. MPC decisions are based on twin objectives, with primacy given to price stability. RBI has also lowered its GDP growth forecast for the current fi...
Source: laosnews.net
