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    <title>Mid-Quarter Monetary Policy Review: December 2012</title>
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    <description>The Reserve Bank kept the cash reserve ratio at 4.25 per cent and the policy repo rate at 8.0 per cent (reverse repo 7.0 per cent; MSF and Bank Rate 9.0 per cent), maintaining key rates unchanged while managing tight liquidity through open market operations. The Bank signalled an increased emphasis on supporting growth-shifting the policy stance toward growth-while remaining sensitive to persistent retail inflation and external sector risks, and conditioning any further easing on incoming inflation and external developments.</description>
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