The Reserve Bank of India has unanimously decided not to raise the repo rate as it expects retail inflation to decline further after it eased in April.
RBI’s Monetary Policy Committee— which is responsible for fixing the benchmark interest rate— announced its decision following a meeting on Thursday.
“The MPC decided unanimously to keep the policy change unchanged at 6.5 per cent,” RBI Governor Shaktikanta Das said.
He added that the MPC decided, by a majority of 5 out of 6, to continue with its stance of “withdrawal of accommodation”. The MPC will take further decisions “promptly and appropriately as required,” he added.
This is a breaking story. More updates will be added soon