In a unanimous vote, the Reserve Bank of India’s Monetary Policy Committee (MPC) has decided to keep key interest rates unchanged but will continue with its accommodative stance “as long as necessary”.
With this decision, the repo rate has been left unchanged at 4%, while the reverse repo remains at 3.35%.
The move, which was widely expected by both market experts and economists, comes amid some signs of recovery in the Indian economy, which has been hurt badly by the COVID-19 pandemic.