monetary policy statement:
* Key lending rate (repo) unchanged at 6 pc;
* Reverse repo rate remains at 5.75 pc and marginal standing facility (MSF) rate and Bank Rate at 6.25 pc;
* Monetary policy’s stance neutral;
* Petrol and diesel prices rose sharply in Jan, reflecting lagged pass-through of past increases in global crude prices;
* Retail inflation estimated at 5.1 pc in Q4 this fiscal and 5.1-5.6 pc in H1 of FY2018-19;
* Inflation likely to ease to 4.5-4.6 per cent in H2 of FY19;
* Gross Value Added (GVA) growth for FY18 seen at 6.6 pc;
* GVA growth for 2018-19 projected at 7.2 pc;
* GST stabilising, which augurs well for economic activity;
* Early signs of revival in investment activity;
* RBI seeks pick-up in credit growth due to recapitalisation of PSBs and resolution proceedings under IBC;
* Export growth expected to improve further on account of improving global demand;
* RBI says focus of Union Budget on rural and infrastructure sectors a welcome development;
* Five members voted in favour of status quo in interest rate; one member voted for increase of 0.25 pc;
* Next meeting of the MPC on April 4 and 5.
