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RBI keeps rates unchanged for eighth consecutive time
The New Indian Express
|June 08, 2024
RESOLUTE inflation policing despite stronger growth indicators persuaded the Monetary Policy Committee (MPC) of the Reserve Bank on Friday to stand pat on the rates front as well as the policy stance for the eighth time in a row.
Ever since the February 2023 review, the Reserve Bank's panel has left the repo rate the benchmark rate below which a lender cannot extend loans and the rate at which banks borrow from the central bank changed at 6.50%.
unThe policy boosted both the equity and money markets with indices closing at record highs while the rupee gained 14 paise against the greenback.
However, fearing delayed rates cut, the bond yield remained above 7% to close at 7.016%.
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