RBI holds rates, says waiting for budget to decide further decrease

Reserve Bank of India.

As was expected by many economists, Today RBI left the key repo rate unchanged at 6.75 percent. RBI said it is waiting for more data on inflation and the Union Budget before taking a call on further reduction in rates. The key words used by RBI during the announcement were that it would continue to remain accommodative.

Despite of some concerns about restricted liquidity in the system, other ratio like CRR (Cash Reserve Ratio) and SLR (Statutory Liquidity Ratio) were also kept unchanged.

 

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