India Central Bank, the Reserve Bank of India (RBI), kept the benchmark Repo rate unchanged at 6.50% at its December meeting held today, as widely expected.
The Monetary Policy Committee (MPC) also kept its stance unchanged at ‘calibrated tightening’.
The RBI said: “While the decision on keeping the policy rate unchanged was unanimous, Dr. Ravindra H Dholakia voted to change the stance to neutral. The MPC reiterates its commitment to achieving the medium-term target for headline inflation of 4 percent on a durable basis. The minutes of the MPC’s meeting will be published by 19 December, 2018.”
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