RBI keeps repo rate unchanged in latest Policy meeting, warns of tightening monetary conditions
Mumbai, Feb 7 (IBNS): The Reserve Bank of India (RBI) in its sixth bi-monthly monetary policy statement for 2017-18 said that it has kept the repo rate ( rate at which the RBI infuses liquidity in the banking system) unchanged at 6 per cent, according to media reports.
The RBI was widely expected to keep its key rate unchanged.
The central bank has also cautioned that monetary conditions are likely to remain tight because of rising risks to inflation.
The RBI It raised its March-end Consumer Price Index (CPI) inflation forecast to 5.1 per cent and projected an inflation range of 5.1 per cent-5.6 per cent in the first half of the next fiscal year, according to media reports.
The next meeting of the MPC is scheduled on April 4 and 5, 2018.
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