Money & Bankin

MPC maintains status quo on rates

Our Burea Mumbai | Updated on December 04, 2020 Published on December 04, 2020

The MPC voted unanimously to hold the policy rate unchanged at 4 per cent

Amidst rising inflation, the Reserve Bank of India’s Monetary Policy Committee decided to maintain the status quo on key rates.

“The MPC voted unanimously to leave the policy rate unchanged at 4 per cent,” said RBI Governor Shaktikanta Das on Friday, adding that it will continue its accommodative stance.

The decision was taken at the bi-monthly meeting of the MPC chaired by RBI Governor Shaktikanta Das. It met between December 2-4.

The policy repo rate continues to be at four per cent. The MPC had in its last meeting in October also left rates unchanged.

Also read:

Retail inflation jumped to 7.61 per cent in October, which is much above the MPC’s inflation benchmarking target.

There has been some recovery in economic activities from the Covid-19 crisis, with GDP contracting at 7.5 per cent in the second quarter of the fiscal, as against 23.9 per cent contraction in the first quarter.

Also read:

 

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on December 04, 2020
RBI and other central banks
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.