RBI Monetary Policy KEY HIGHLIGHTS: Governor Shaktikanta Das led committee leaves interest rates unchanged at 4 pct; GDP projected at 10.5% in next fiscal
RBI Monetary Policy LIVE UPDATES: Reserve Bank of India (RBI) today decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the COVID-19 pandemic. The benchmark repurchase (repo) rate has been left unchanged at 4 per cent, Governor Shaktikanta Das said while announcing the decisions taken by the central bank's Monetary Policy Committee (MPC). This is the fourth time in a row that MPC has decided to keep the policy rate unchanged. RBI had last revised its policy rate on May 22 in an off-policy cycle to perk up demand by cutting interest rate to a historic low.
Here are the live updates:
RBI Monetary Policy LIVE UPDATES: Reserve Bank of India (RBI) today decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the COVID-19 pandemic. The benchmark repurchase (repo) rate has been left unchanged at 4 per cent, Governor Shaktikanta Das said while announcing the decisions taken by the central bank's Monetary Policy Committee (MPC). This is the fourth time in a row that MPC has decided to keep the policy rate unchanged. RBI had last revised its policy rate on May 22 in an off-policy cycle to perk up demand by cutting interest rate to a historic low.
Here are the live updates:
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All MPC members unanimously voted to keep rates unchanged
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Consequently, the reverse repo rate will also continue to earn 3.35 per cent for banks for their deposits kept with RBI. He said MPC voted for keeping interest rate unchanged and decided to continue with its accommodative stance to support growth. The central bank had slashed the repo rate by 115 basis points since late March 2020 to support growth.
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RBI leaves interest rates unchanged
RBI leaves interest rates unchanged for the fourth time in a row, keeps repo rate at 4 pc.
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RBI Governor press conferance begins
As expected, RBI Governor Shaktikanta Das started his press conference on the RBI Monetary Policy began at 10:00 AM on time.