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Short-term lending rate Repo raised by 0.5 % to 9 %

Cash Reserve Rato raised by 0.25 % to 9 % from Aug 30

Reverse repo and bank rate unchanged at 6 %

RBI lowers GDP growth rate projection to 8% from 8-8.5%

RBI to attempt to cool inflation from 11-12% to 7% by March, 2009

Earlier objective was to bring down inflation to close To 5 % by March, 2009

RBI to continue to strive to bring down inflation to 3 % in medium-term

Liquidity management to be top priority

Price stability, orderly conditions in financial market to be given high priority

Early signs of some moderation in money supply.


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