News Headline Summary

Reserve Bank of India Repo Cutoff Yield (Jan 29) 7.75% vs. Exp. 7.75% (Prev. 8.00%)

- Reverse Repo Rate (Jan 29) 6.75% vs. Exp. 6.75% (Prev. 7.00%)
- Cash Reserve Ratio (Jan 29) 4.00% vs. Exp. 4.25% (prev. 4.25%)

- Cuts 2012/13 GDP growth projection to 5.5% from 5.8% earlier.
- Cuts end-March 2013 inflation projection projection to 6.8% from 7.5% earlier.

Reaction details (05:34)

- USD/INR immediately moved down by 6 pips from 53.86 to 53.80, trades 53.83 (-20 pips) last.
- Both Nifty and Sensex index spiked higher by 0.61% and 0.58% respectively.

29 Jan 2013 - 05:30 - - Source: Newswires

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