RBI Keeps Repo Rate stable at 4%; Maintains Accommodative Stance
- Policy Status Quo maintained for the sixth time in a row
- Reverse Repo Rate maintained at 3.35%, MSF rate at 4.25% & Bank Rate at 4.25%
- Real GDP at 9.5% in FY 21-22
New Delhi: Concluding the three-day MPC meet on June 4, RBI Governor Shaktikanta Das announced maintenance of repo rate at 4% along with the reverse repo rate that has also been kept unchanged at 3.5%.
The three-day meet commenced on 2 June which took stock of the evolving macroeconomic and financial conditions as well as the impact of the second wave of the pandemic.
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Based on its assessment, the MPC voted unanimously to maintain the status quo, keeping the policy repo rate unchanged at 4 percent. The MPC also decided unanimously to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target going forward.
The marginal standing facility (MSF) rate and the bank rate remain unchanged at 4.25 percent. The reverse repo rate also remains unchanged at 3.35 percent,” said the Governor of RBI during his address on Friday. Considering all factors, the real GDP was recorded at 9.5% in FY 21-22.
This is the sixth time in a row that the MPC under Governor Das has maintained the policy status quo. The last revision of the policy rate came on May 22, 2020.
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