RBI leaves rates unchanged, says economy better prepared to deal with Covid

Central bank maintains FY22 GDP forecast at 9.5 per cent and projected retail inflation to be at 5.3 per cent.

The Reserve Bank of India’s monetary policy committee (MPC) on Wednesday maintained key interest rates for a ninth straight meeting, retaining an accommodative stance amid the threat surrounding Omicron coronavirus variant.

Repo and reverse repo rates remain unchanged at 4 per cent and 3.35 per cent, respectively, said RBI governor Shaktikanta Das in a statement after a three-day meeting of the committee in Mumbai.

The central bank maintained its FY22 GDP forecast at 9.5 per cent and projected retail inflation to be at 5.3 per cent.

"Indian economy hauled itself out of its deepest contraction; we are better prepared to