The Reserve Bank of India on Tuesday cut repo rates by 0.50 per cent to 8 per cent. This is the central bank’s first interest rate cut since January 2009.
The Reserve Bank of India on Tuesday cut repo rates by 0.50 per cent to 8 per cent. This is the central bank’s first interest rate cut since January 2009.
The cash reserve ratio, the percentage of deposits kept by banks with RBI, was left unchanged at 4.75 per cent.
Here is a history of previous rate cuts or hikes by the Reserve Bank of India:
RECENT RBI MOVES
Cash Reserve Ratio
09/03/12 4.75% (-75bp)
24/01/11 5.5% (-50bp)
21/04/10 6% (+25bp)
27/02/10 5.75% (+25bp)
13/2/10 5.5% (+50bp)
17/1/09 5% (-50bp)
8/11/08 5.5% (-50bp)
25/10/08 6% (-50bp)
11/10/08 6.5% (-250bp)
30/8/08 9% (+50bp)
RECENT RBI MOVES
Repo Rate
October 25 2011 +25bp to 8.5%
September 16 2011 +25bp to 8.25%
July 26 2011 +50bp to 8%
June 16 2011 +25bp to 7.50%
May 3 2011 +50 bp to 7.25%
March 17 2011 +25 bp to 6.75%
Jan 25 2011 +25bp to 6.5%
Nov 2 2010 +25bp to 6.25%
Sept 16 2010 +25bp to 6%
July 27 2010 +25bp to 5.75%
July 2 2010 +25bp to 5.50%
April 20 2010 +25bp to 5.25%
March 19 2010 +25bp to 5%
April 21 2009 -25bp to 4.75%
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