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RBI keeps key interest rate unchanged

August 5, 2014

ANI



Mumbai, Aug 5 (ANI): The Reserve Bank of India (RBI) in its third bi-monthly monetary policy statement for 2014-15 kept the repo rate unchanged at eight percent.

The reverse repo rate was kept unchanged at seven percent and Cash Reserve Ratio (CRR) was maintained at four percent.

RBI also reduced Statutory Liquidity Ratio (SLR) by 0.5 per cent to 22 per cent.

RBI Governor Raghuram Rajan said there are upside risks to inflation in view of uncertain monsoon and its impact on food production as also volatile international oil prices.

"It is appropriate to continue maintaining a vigilant monetary policy stance as in June, while leaving the policy rate unchanged," he added.

The Central Bank has pegged Gross Domestic Product growth rate for current fiscal at 5.5 per cent, it was projected at 5-6 per cent range in April. (ANI)


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Source: Asian News International


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