 "RBI, Reserve Bank of India")
Once again, the Indian central bank has maintained status quo at the October meeting of its rate-setting body when it comes to the policy but opened the door for a rate cut in future.
The newly constituted Monetary Policy Committee (MPC) has kept the repo rate, or the rate at which the central bank lends money to commercial banks, unchanged at 6.5 per cent but it has changed the stance from “withdrawal of accommodation” to “neutral”. Five out of six members of the MPC have voted for the status quo on rate; the decision on change in stance
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