RBI hikes key rates by 25bps each: As widely expected, the Reserve Bank of India hiked repo and reverse repo rates by 25bps each to 6.5% and 5.5% respectively with immediate effect. Other key rates such as the bank rate and CRR have been kept unchanged.
Inflation estimate revised upwards: RBI has revised its inflation projection for March 2011 upwards to 7.0% from 5.5% earlier. Meanwhile it has retained its GDP growth projection of 8.5% for FY11.
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