Raising interest ordinarily stifle interest in the economy, accordingly assisting inflation decline. The three- day monetary policy committee financial approach council meeting initiated on Wednesday.
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).
Reserve Bank of India’s six-member Monetary Policy Committee decision to keep the repo rate unchanged at four per cent is a step in the right direction, especially when it is borne in mind that inflation is now on the rise.
During its October monetary policy review, RBI kept the key repo rate unchanged at 6.50 per cent.
The Reserve Bank of India (RBI) on Wednesday raised its key benchmark lending rate by 25 basis point to 6.5 per cent in its third monetary policy review of 2018-19.
Following a cycle of rate cuts begun in January 2015, the RBI on Wednesday raised its key interest rate for the first time by 25 basis points to 6.25 per cent, a central bank announcement said.
