RBI keeps repo rate unchanged at 5.15 per cent
New Delhi, Feb 6 (KNN) The Reserve Bank of India (RBI) on Thursday in the sixth bimonthly policy review of the ongoing financial year decided to keep its short-term lending rate -- repo rate rate -- unchanged at 5.15 per cent.
The six-member monetary policy committee (MPC) voted in favour of the status quo. In the December policy review also, all members had voted in favour of keeping rates steady.
''These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent within a band of +/- 2 percent, while supporting growth," the apex bank said in a statement.
In October, the MPC reduced the benchmark lending rate by 25 basis points to 5.15 percent. Also, RBI had cut the benchmark short-term lending rate (repo rate) by an unusual 35 basis points in the August policy review and 25 bps each in the policy reviews in February, April and June.