The Reserve Bank of India (RBI) on Monday said it would announce the first quarter review of monetary policy 2011-12 on July 26, against the backdrop of diesel and cooking gas price increase.
This would be done in a meeting with the chief executive officers of major banks. In its mid-quarter review earlier this month, RBI had raised key policy rates by 25 basis points in its effort to tame inflation. RBI raised the repo rate by 25 basis points to 7.50 per cent and the short-term borrowing (reverse repo) rate moved up by a similar margin .
