RBI makes no changes in policy, other rates

Mumbai, Oct 24 (UNI) The Reserve Bank of India (RBI) today kept unchanged its key policy rates at the mid-term review of the annual policy statement for 2008-09.

The bank rate remains at six per cent and the repo and reverse repo rate at eight and six per cent respectively. The cash reserve ratio is also unchanged at 6.5 per cent. The new RBI governor D Subbarao, in his first review with Bankers, lowered the real gross domestic product growth at a range of 7.5 to eight per cent for the year and expected to bring down the inflation to under five per cent from the current level of 11.1 per cent.

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