New Delhi: The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Wednesday kept the short-term lending rate, also known as repo rate, unchanged at 6 per cent in its fifth bi-monthly policy review of the fiscal year.
All but two of 54 analysts in a Reuters poll had predicted the repo rate would be left unchanged at the lowest since November 2010 for a second meeting in a row.
The central bank reiterated that it is maintaining a ‘neutral’ stance in monetary policy.
The RBI also kept the reverse repo rate unchanged at 5.75 per cent.
Five members of the monetary policy committee voted to keep rates unchanged, with one voting for a 25 bps cut.