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In its First Bi-Monthly Monetary Policy Statement, RBI maintained ‘status quo’, leaving key policy rates unchanged.     Inflation projections were revised downwards to 4.7%-5.1% for H1 FY19 (5.1-5.6% previously) and 4.4% for H2 FY19 (4.5-4.6% previously), including HRA impact.     CPI for the month of March came in higher than expectations at 4.28% as compared to 4.44% in February noting pressures in food and non-food components. Core CPI stood higher at 5.37% in March vis-à-vis 5.16% in February.      The Index of Industrial Production for February grew by 7.1% from 7.5% in January led partly by favorable base even as sequential momentum faded.     March WPI stood little changed at 2.47% as compared to 2.48% observed a month ago as sequential momentum in manufactured products gained traction while the base remained favorable.
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