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    <title>Third Bi-monthly Monetary Policy Statement, 2017-18 Resolution of the Monetary Policy Committee (MPC) Reserve Bank of India</title>
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    <description>The Monetary Policy Committee cut the policy repo rate by 25 basis points to 6.00%, adjusted associated LAF rates, and maintained a neutral stance to balance the objective of achieving CPI inflation around 4% with support for growth. The action reflected very low headline inflation, moderating core inflation, surplus liquidity managed through MSS/TBs and CMBs, and downside growth pressures from weak manufacturing and corporate deleveraging, while acknowledging upside risks from HRA implementation, state fiscal actions and seasonal food-price spikes. Real GVA growth was retained at 7.3% with risks evenly balanced.</description>
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