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RBI keeps repo rate on hold at 6 percent, stance 'neutral'

Reuters  |  MUMBAI 

(Reuters) - The Reserve of kept its policy rate unchanged at a more than seven-year low of 6.00 percent on Wednesday after accelerated to a seven-month high and stronger economic growth reduced the need for monetary stimulus.

All but two of 54 analysts in a poll had predicted the repo rate would be left unchanged at the lowest since November 2010 for a second meeting in a row.

The central reiterated that it is maintaining a "neutral" stance in monetary policy.

The RBI also kept the reverse repo rate unchanged at 5.75 percent.

Five members of the monetary policy committee voted to keep unchanged, with one voting for a 25 bps cut.

(Reporting by Swati Bhat and Suvashree Dey Choudhury; Writing by Rafael Nam; Editing by Richard Borsuk)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 06 2017. 14:33 IST