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RBI in its June policy cut the repo rate by 25 bps while also changing the stance to ‘accommodative’ from ‘neutral’. Consequently, key policy rates are pegged as follows - Repo rate at 5.75%, Reverse Repo at 5.50% and Marginal Standing Facility (MSF) at 6.00%        The inflation projections have been revised to 3.0-3.1% in H1 FY20 (from 2.9-3.0% earlier) and 3.4-3.7% in H FY20 (from 3.5-3.8% earlier)         GDP growth for FY20 has been revised downwards to 7.0% from 7.2% - in the range of 6.4-6.7% in H1 (from 6.8-7.1% earlier) and 7.2-7.5% in H2 (from 7.3-7.4% earlier).        CPI inflation for the month of May stood at a 7-month high of 3.05% compared to the revised April estimate of 2.99% as a result of seasonal rise in food prices. However, core inflation stood significantly lower at 4.21% compared to 4.53% in the previous month.        Growth in industrial production, as reflected by the IIP index stood considerably higher at 3.4% after the dismal performance witnessed in the last five months.        Belying market expectations, Wholesale Price Inflation (WPI) came in at 2.45% for May-19, its lowest level since Aug-17, due to lower-than expected rise in prices of Primary Articles and Manufactured Products. At the same time, WPI for the month of March 2019 is revised downwards to 3.10% from 3.18% earlier.       
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