RBI maintain status quo, keeps all policy rates unchanged

Weighed down by a weak rupee, Reserve Bank on Tuesday chose to keep all key interest rates unchanged in its first-quarter monetary policy review and asked the govt to take urgent steps to reign in the high current account deficit.

Following are the highlights of RBI's first-quarter monetary policy review:
> Priorities for RBI remain rupee, growth and inflation
> Keeps repo rate unchanged at 7.25 per cent
> CRR unchanged at 4 per cent
> Marginal standing facility unchanged at 10.2 per cent
> RBI cuts GDP forecast for FY14 to 5.5 per cent from 5.7 per cent earlier
> Stronger than expected monsoon has not brought down food inflation
> Biggest risk to macroeconomic outlook from external factors
> International crude rates firming up
> Investments climate remains weak
> Recent liquidity steps to bring down current account deficit (CAD)
> Endevour to bring down inflation to 5 per cent by March next year
> To roll back liquidity steps in calibrerated manner once stability restored in forex market
> Time available now must be used with alacrity
> Next monetary policy review on September 18