RBI Maintains Status Quo On Key Rates

The Reserve Bank of India (RBI) Governor Shaktikanta Das announced that the central bank has decided to keep key rates unchanged in its bi-monthly policy statement for the ninth consecutive time. The repo rate remains at 4 percent, reverse repo at 3.35 percent and the stance remains accommodative. There was a 5:1 majority to retain RBI's accommodative stance. The central bank had last revised the policy rate on May 22, 2020, in an off-policy cycle to perk up demand by cutting interest rate to a historic low. The 10-year bond yield falls from 6.39% to 6.36% as RBI Governor announces no change in reverse repo rate while rupee was seen close to day's low at 75.50.

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