Economic Buzz: RBI Maintains Status Quo On Interest Rates At Beginning Of New Fiscal; Ups Growth Forecast

The Reserve Bank of India Monetary policy committee keeps repo rate unchanged at 6 percent and maintains neutral stance on monetary policy. MPC votes for status quo with a vote of 5-1. The central bank CPI inflation forecast reduced marginally 4.7-5.1 percent in H1 and 4.4 percent in H2. The GDP growth forecast for FY19 pegged at 7.4 percent.