REPO RATE, CRR HIKED; ECONOMY TO SLOW DOWN TO 8%.
- Repo rate raised by 50 basis points to 9%
- Cash Reserve Ratio raised by 25 bps to 9%
- Reverse repo, bank rate unchanged at 6%
- GDP growth rate projection lowered to 8% from 8-8.5%
- Efforts to cool inflation to 7% by March 2009
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