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RBI again keeps repo rate unchanged at 6.25 pc, but raises reverse rate

RBI again keeps repo rate unchanged at 6.25 pc, but raises reverse rate

| | 06 Apr 2017, 03:19 pm
Mumbai, Apr. 6 (IBNS) : Maintaining status quo as it did the last time, the Reserve Bank of India (RBI) on Thursday kept unchanged the repo rate at 6.25 per cent, reports said after a Monetary Policy Committee meeting.

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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