Business

Monetary policy highlights

Pioneer

Key lending rates hiked by 0.25 per cent to 8%

Cash reserve ratio kept unchanged at 4%

Marginal Standing Facility (MSF) rate stands at 9%

GDP growth to be less than 5% in current fiscal

Growth to improve to 5.5% in 2014-15

Current Account Deficit to be below 2.5%this fiscal

March-end inflation could exceed 8%

Rate hike will set economy securely on disinflationary path

Growth likely to lose momentum in Q3 of 2013-14

Slowdown in economy getting increasingly worrisome

Inflation is a tax that is grossly inequitable, falling hardest on the very poor

Fiscal and monetary authorities should continue to work for macroeconomic stabilisation

Henceforth, policy review to take place every two months. Next review on April 1