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RBI keeps key interest rate unchanged

Press Trust of India  |  Mumbai 

RBI today kept the key unchanged, on the expected lines, but raised the forecast for remainder of the current financial year to 4.3- 4.7 per cent.

The 6-member Monetary Policy Committee (MPC), headed by Reserve of Governor Urjit Patel, in its fifth bi- monthly review, kept repo rate unchanged at 6 per cent and reverse repo at 5.75 per cent.

It said the reason for the decision was "achieving the medium-term target for consumer price index (CPI) of 4 per cent within a band of +/- 2 per cent, while supporting growth".

The central kept the economic growth forecast unchanged at 6.7 per cent for the fiscal ending March 31.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 06 2017. 14:50 IST