RBI keeps key rates unchanged, for the fifth time in a row

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RBI

For the fifth time in a row, the Reserve Bank of India on April 7 kept the policy rates unchanged.

ShaktikantaRBI Governor Shaktikanta Das announced that the repo rate and the reverse repo rate will remain unchanged at 4 per cent and 3.35 per cent, respectively, and the accommodative stance will go on as long as it is needed.

“The monetary policy committee has unanimously voted for the accommodative stance to sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy while ensuring that inflation remains within the target going forward,” said the Governor.

Das added that the “recent surge in infections has imparted greater uncertainty to the outlook and needs to be closely watched especially as localised lockdowns could dampen the improvements in the demand conditions and delay the return of normalcy.”