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Financial News: India Central Bank Holds Rate Unchanged

India Central Bank Holds Rate Unchanged

10/08/2021 - 01:59:00 (RTTNews)

(RTTNews) - India's central bank left its key interest rate unchanged on Friday and retained its growth projection for the financial year ending March 2022.

The Monetary Policy Committee, led by Governor Shaktikanta Das, kept the policy repo rate steady at 4.0 percent, the Reserve Bank of India said in a statement. The decision was in line with expectations.

The reverse repo rate was left unchanged at 3.35 percent and the marginal standing facility rate and the Bank Rate at 4.25 percent.

"The MPC also decided to continue with the accommodative stance as long as necessary to revive and 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," the RBI said.

The central bank retained the projection for real GDP growth for the financial year 2021-22 at 9.5 percent.

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