RBI keeps key policy rates unchanged
Mumbai, Aug 10 Falling on the expected lines, the RBI maintained status quo on the key policy rates on conclusion of three-day MPC meeting which concluded here today. As of now, Repo Rate will continue to be at 6.5 per cent.
Addressing media immediately after the conclusion of MPC meeting, the RBI governor, Dr Shaktikanta Das said, “MPC decision on Repo Rate was unanimous.”
Policy rates will stay higher for longer in global economies, he said.
According to Das, “Headline inflation is easing unevenly cross countries, remains above target in major economies.”
Global growth likely to remain low by historical standards in coming few years, the RBI governor said.
Das said that with effect from August 12, fortnight banks shall maintain an incremental CRR of 10 per cent on increase in NDTL between May 19 and July 28.
Excess liquidity can pose risks to price stability, he said.