MUMBAI: The Reserve Bank of India on Thursday decided to keep policy rate unchanged for the sixth time in a row in view of global uncertainty and the need to bring down retail inflation to 4 per cent.
Following RBI’s decision to maintain status quo, banks and financial institutions will largely keep lending rates stable.
RBI had last raised repo rate in February 2023 to 6.5 per cent after six consecutive rate hikes aggregating to 250 basis points since May 2022.
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