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RBI keeps rates on hold, as expected

Reuters  |  MUMBAI 

(Reuters) - The of India (RBI) kept interest rates unchanged at a policy meeting on Wednesday to offer support for an that has lost some momentum, in a decision that was widely expected as has eased significantly.

The committee (MPC) kept the repo rate unchanged at 6.50 percent on Wednesday as predicted by 64 of 70 analysts in a poll. The also retained its 'calibrated tightening' stance as expected.

All six members of the voted to keep the rates on hold.

The said starting in the January-March quarter of 2019 it would begin to lower banks' mandatory bond holding ratios by 25 basis points each quarter until it reaches 18 percent of deposits, in a move aimed to push banks to lend more.

(Reporting by and Suvashree Dey Choudhury; Editing by Simon Cameron-Moore)

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

First Published: Wed, December 05 2018. 14:47 IST