Full text: RBI keeps repo rate unchanged at 6%, growth estimate at 6.7%

The central bank also raised its inflation forecast for the third and fourth quarters of the current financial year to 4.3-4.7 per cent, and kept the economic growth forecast unchanged at 6.7 per cent

The Monetary Policy Committee (MPC) of the Reserve Bank of India on Wednesday decided to keep the key repo rate, the rate which the central bank lends money to commercial banks, unchanged at six per cent. The decision of the status quo was taken after a two-day meeting of the MPC, chaired by RBI Governor Urjit Patel.

This was a second straight bimonthly policy review that saw RBI keeping the key rate unchanged. It had last effected a change in its August review, when it had cut the repo rate to a six-year low of 6 per cent.