RBI cuts repo rate by 100 bps to 8 pc
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Sukumar.N
Oct 20, 2008, 5:17:30 AM10/20/08
to Kences1
RBI cuts repo rate by 100 bps to 8 pc
=============================
MUMBAI: The Reserve Bank of India has decided to reduce the repo rate
under the Liquidity Adjustment Facility by 100 basis points to 8.0 per
cent wit
h immediate effect.
The global financial situation continues to be uncertain and
unsettled. Even as countries directly affected by the turmoil have
taken aggressive action to manage the crisis, confidence and calm is
yet to be fully restored in the financial markets. Due to financial
integration, this uncertainty is transmitting also to countries
outside the epicenter of the crisis. India too is experiencing the
indirect impact of the global liquidity constraint as reflected by
some signs of strain in our credit markets in recent weeks, the Indian
central bank said in a statement.
The cut is aimed at maintaining financial stability, it added.
N.Sukumar
Research Analyst
www.kences1.blogspot.com
=============================
MUMBAI: The Reserve Bank of India has decided to reduce the repo rate
under the Liquidity Adjustment Facility by 100 basis points to 8.0 per
cent wit
h immediate effect.
The global financial situation continues to be uncertain and
unsettled. Even as countries directly affected by the turmoil have
taken aggressive action to manage the crisis, confidence and calm is
yet to be fully restored in the financial markets. Due to financial
integration, this uncertainty is transmitting also to countries
outside the epicenter of the crisis. India too is experiencing the
indirect impact of the global liquidity constraint as reflected by
some signs of strain in our credit markets in recent weeks, the Indian
central bank said in a statement.
The cut is aimed at maintaining financial stability, it added.
N.Sukumar
Research Analyst
www.kences1.blogspot.com
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