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Monetary Policy Decisions
MPC Meeting of August, 2003
- Reduction of Minimum Rediscount Rate (MRR) by 150 basis points to 15.0 per cent with effect from August 17, 2003;
- Changed the frequency of MPC Meetings from fortnightly to monthly;
MPC Meeting of June, 2003
- While a change in the stance of monetary policy was not considered as desirable, the need for greater fiscal prudence was emphasized.
MPC Meeting of April, 2003
- No additional policy action was introduced during the month.
MPC Meeting of March, 2003
- No new monetary policy action was introduced during the month.