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Monetary Policy

Ultimate Objectives — Examples / Notes?
Examples: Price stability, Growth, Employment; Notes: What the central bank finally wants.
Intermediate Targets — Examples / Notes?
Examples: Money supply, Nominal income, Exchange rate; Notes: What policy operates on on the way to the goal.
MSF / Bank Rate (ceiling) — Rate (as of 10-Jun-2026) / Function?
Rate (as of 10-Jun-2026): 5.50 %; Function: Penal overnight borrowing by dipping into SLR (up to 2 %)
Policy Repo Rate (middle) — Rate (as of 10-Jun-2026) / Function?
Rate (as of 10-Jun-2026): 5.25 %; Function: Anchor rate — set by MPC
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