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Third Quarter Review of Annual Monetary Policy for the Year 2005-06- January 24, 2006

Dr. Y. Venugopal Reddy, Governor, Reserve Bank of India announced the Third Quarter Review of Annual Monetary Policy for the Year 2005-06 on the 24th January 2006. RBI has kept Bank Rate unchanged at 6.0 per cent and CRR at 5.0 per cent. However fixed reverse repo rate has been increased by 25 basis points from 5.25 per cent to 5.50 per cent.

According to RBI, on an overall assessment, the outlook for the Indian economy has brightened considerably in the first three quarters of 2005-06. The overall stance of monetary policy is to maintain the emphasis on price stability, continue to support export and investment demand in the economy and provide appropriate liquidity to meet genuine credit needs of the economy.

This Review consists of three sections:

I. Assessment of Macroeconomic and Monetary Developments

a) Domestic Developments... Click Here

b) Developments in the External Sector... Click Here

c) Developments in the Global Economy... Click Here

d) Overall Assessment... Click Here

II. Stance of Monetary Policy... Click Here

III. Monetary Measures... Click Here

An analytical review of macroeconomic and monetary developments was issued, a day in advance, as a supplement to this Review, providing the necessary information and analysis.

Annual Policy Statement for 2006-07

The Annual Policy Statement for the year 2006-07 will be announced on April 18, 2006.

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