News
Repo rate unchanged eighth time in a row
The Reserve Bank of India‘s monetary policy committee (MPC) on October 8 kept the key lending rate (repo rate) unchanged at 4 per cent for the eighth time in a row. The reverse repo rate was kept unchanged at 3.5 per cent.
The central bank retained the FY22 GDP growth forecast at 9.5 per cent. CPI inflation for the current fiscal was projected at 5.3 per cent.
The RBI announcement comes against the backdrop of COVID-19 infections receding in recent days and the economy stablising.
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