RBI keeps repo rate on hold at 6.25 per cent

The RBI's monetary policy committee on Wednesday voted 6-0, its third unanimous decision in a row since being established in September.

By: Reuters | Mumbai | Updated: February 8, 2017 4:31 pm
RBI, repo rate, RBI repo rate, RBI policy meet, urjit patel, demonetisation, note ban, RBI growth, india growth forecast, india growth RBI governor Urjit Patel (File Photo)

The Reserve Bank kept its repo rate on hold at 6.25 percent for a second straight policy meeting, opting to wait for more clarity on inflation trends and on how a radical crackdown on “black money” is impacting economic growth.

WATCH VIDEO | Reserve Bank Of India Keeps Repo Rate Unchanged

 

The RBI’s monetary policy committee on Wednesday voted 6-0, its third unanimous decision in a row since being established in September. Before the meeting, analysts were split on what the RBI would do. In a Reuters poll last week, 28 of 46 participants saw the central bank cutting the repo rate by a quarter point and two expected a 50 bps cut.

But others correctly predicted the RBI would wait until its next policy review in April.

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