RBI keeps key rates unchanged, maintains ‘accommodative stance’
MUMBAI: The Reserve Bank of India (RBI) kept its interest rates unchanged at its third bi-monthly monetary policy review on Tuesday.
After the status-quo in policy rates, the reserve ratio stands at 7.25 percent, the reverse ratio stands at 6.25 percent and cash reserve ratio (CRR) and statutory liquidity ratio (SLR) at 4 percent and 21.5 percent, respectively.
While retail inflation in June rose to an eight-month high of 5.4 percent, the overall wholesale price index (WPI) based inflation was (-)2.4 percent in the same month.
RBI mostly tracks the consumer price inflation for its monetary policy decision.In its last review on June 2, RBI cut repo rate 0.25 percent for the third time this year.
During the calender year, RBI has reduced the rate thrice by 0.75 percent. It was cut by 0.25 percent each in January, March and June.
