Last monetary policy review of 2020: RBI Governor's speech highlights

The Reserve Bank of India (RBI) has left interest rates unchanged for a third straight meeting as inflation stayed stubbornly high, and said the economy was recuperating fast and would return to positive growth in the current quarter itself. The benchmark repurchase rate will be maintained at 4 per cent, RBI Governor Shaktikanta Das said. The six-member Monetary Policy Committee (MPC) retained its accommodative stance, signaling its intentions to cut interest rates whenever the situation eases. A spike in consumer prices forced RBI to pause after cutting rates by 115 basis points this year. The central bank, which had previously expected the economy to shrink 9.5 per cent in the year to March, revised its forecast after a shallower-than-expected decline in the gross domestic product (GDP) in the July-September quarter.