The Reserve Bank of India (RBI) today kept the repo rate unchanged at 8 per cent and pegged 2014-15 GDP growth at a central estimate of 5.5 per cent.
It has also kept the cash reserve ratio (CRR) unchanged at 4.0 per cent.
Announcing the Annual Monetary Policy for 2014-15 here, RBI Governor Raghuram Rajan said the growth rate for 2014-15 will be 5.5 per cent.
On inflation, Rajan said he sees retail inflation softening in 2014 to under 6 percent.
"Excluding food and fuel...retail inflation remained sticky around 8 per cent. This suggests that some demand pressures are still at play," he said.
Rajan said that no further tightening will be done if inflation continues along the glide path.
