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RBI keeps key policy rate unchanged at 6%, lowers FY19 inflation projection

Five of six members on the monetary policy committee (MPC) voted for a hold, while one wanted a hike in the repo rate

Reuters  |  Mumbai 

The Reserve Bank of India kept its policy rates on hold on Thursday and retained its "neutral" stance but lowered its inflation call, reducing the odds of a near-term rate hike and spurring a rally in stocks and bonds. The RBI kept its policy repo rate unchanged at 6.00 per cent for the fourth straight meeting as unanimously expected by 61 respondents in a Reuters poll. That level is the lowest since November 2010. It also kept the reverse repo rate unchanged at 5.75 per cent. Five of six members on the monetary policy committee (MPC) voted for a hold, while one ...

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First Published: Thu, April 05 2018. 17:56 IST