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Financial News: India's Central Bank Leaves Key Rates Unchanged

India's Central Bank Leaves Key Rates Unchanged

04/07/2021 - 01:22:00 (RTTNews)

(RTTNews) - India's central bank left its key interest rates unchanged, as widely expected, on Wednesday.

The Monetary Policy Committee of the Reserve Bank of India unanimously voted to maintain the policy repo rate at 4.00 percent. The reverse repo rate was retained at 3.35 percent.

The last change in the benchmark rate was a 40 basis point cut in May 2019, which took the cumulative reduction since February 2019 to 250 basis points.

The Marginal Standing Facility rate and the Bank rate were also left unchanged at 4.25 percent.

The bank retained its real GDP growth forecast for 2021-22 at 10.5 percent, Governor Shaktikanta Das said at the press conference.

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