RBI again keeps repo rate unchanged at 6.25 pc, but raises reverse rate
However, it raised the reverse rate to 6 per cent from 5.75 percent.
"We have unanimously decided to keep the repo rate unchanged and maintain a nutral policy," RBI Governor Urjit Patel told a press conference.
He said the Cash Reserve Ratio (CRR) has also been kept unchanged at 4 per cent and Reverse Repo Rate at 5.75 per cent. .
A statement issued by the RBI said, "It is important to note three significant upside risks that impart some uncertainty to the baseline inflation path -- the hardening profile of international crude prices; volatility in the exchange rate on account of global financial market developments, which could impart upside pressures to domestic inflation; and the fuller effects of the house rent allowances under the 7th Central Pay Commission.
In last monetary policy review too, the RBI had kept repo rate unchanged.
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