RBI monetary policy review: Repo rate unchanged at 6.50%, SLR lowered

SLR cut by 25 basis points to 19.25 per cent from January 1, 2019. The central bank also said that SLR would be reduced by 25 basis points every quarter

As widely expected, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Wednesday kept the key repo rate unchanged at 6.5 per cent, while maintaining the stance of 'calibrated tightening' of policy. This is for the second time in a row that the central bank did not tinker with the interest rate. The reverse repo rate also stands unchanged, at 6.25 per cent. "The decision of the Monetary Policy Committee is consistent with the stance of calibrated tightening of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI)