RBI keeps interest rate unchanged, maintains status quo Photogallery

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RBI keeps interest rate unchanged, maintains status quo

Reserve Bank of India governor Raghuram Rajan re-established his credentials as an inflation hawk by keeping key interest rates unchanged on Tuesday. (BCCL)

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RBI added that the success of ongoing government actions in removing infrastructural constraints will be key to reviving growth. (Getty Images)

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In the fifth bi-monthly policy the RBI said that it will keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 8.0 per cent; keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liabilities (NDTL); continue to provide liquidity under overnight repos at 0.25 per cent of bank-wise NDTL at the LAF repo rate and liquidity under 7-day and 14-day term repos of up to 0.75 per cent of NDTL of the banking system through auctions; and continue with daily one-day term repos and reverse repos to smooth liquidity. (Getty Images)

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"Retail inflation, as measured by the consumer price index (CPI), has decelerated sharply since the fourth bi-monthly statement of September. This reflects, to some extent, transitory factors such as favourable base effects and the usual softening of fruits and vegetable prices that occurs at this time of the year. On the other hand, protein-rich items such as milk and pulses continue to experience upside pressures, reflecting structural mismatches in supply and demand. The absence of adequate administered price revisions in inputs like electricity has contributed to the easing of inflation in the fuel group," Rajan said in his policy statement. (BCCL)

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