RBI keeps policy rate unchanged for fourth meeting
Mumbai: The Reserve Bank of India on Wednesday decided to keep the policy rates unchanged for a fourth monetary policy meeting in a row.
The repo rate under the liquidity adjustment facility (LAF) remained at 6.25 percent. Consequently, the reverse repo rate under the LAF was kept unchanged at 6 percent.
The marginal standing facility (MSF) rate and the Bank Rate were retained at 6.50 percent.
In a statement, the RBI said “the decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent within a band of +/- 2 percent, while supporting growth.”
The next meeting of the MPC is scheduled on August 1 and 2, 2017.