RBI leaves repo rate unchanged at 6 per cent

Shital Jibhe / 06 Dec 2017

RBI leaves repo rate unchanged at 6 per cent

Reserve Bank of India’s Monetary Policy Committee (MPC) did not make any changes in the current interest rates following the MPC meet held on Wednesday. As announced by the apex bank, current interest rates remain unchanged with the repo rate at 6 per cent, reverse repo rate at 5.75 per cent and cash reserve ratio at 4 per cent.

Reserve Bank of India’s Monetary Policy Committee (MPC) did not make any changes in the current interest rates following the MPC meet held on Wednesday. As announced by the apex bank, current interest rates remain unchanged with the repo rate at 6 per cent, reverse repo rate at 5.75 per cent and cash reserve ratio at 4 per cent.
 
RBI was forced to keep the rates unchanged because of the inflation, which is on rise due to higher food prices, oil prices, bank recapitalisation and fiscal slippage risks.
 
The MPC felt that India’s retail inflation which was galloping towards the RBI’s tolerable 4 per cent threshold driven by costlier vegetables, needs to be reined in first before lowering the loan costs.
 
The Indian economy grew up by 6.3 per cent in July-September quarter, recovering from a three-year low growth slump of 5.7 per cent in April-June, as the companies scaled up production and restocked supplies after GST regime settled. 
 
The RBI had last cut the repo rate by 0.25 per cent to 6 per cent in August 2017.

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