Wednesday, 8 February 2017

RBI keeps policy rate on hold for second meeting in a row

Ripples Advisory Private Limited, Indore @9303093093

The Reserve Bank of India (RBI) kept its repo rate on hold at 6.25 percent for a second straight policy meeting, opting to wait for more clarity on inflation trends and on how a radical crackdown on "black money" is impacting economic growth. The RBI's monetary policy committee on Wednesday voted 6-0, its third unanimous decision in a row since being established in September. 

Before the meeting, analysts were split on what the RBI would do. 28 of 46 participants saw the central bank cutting the repo rate by a quarter point and two expected a 50 bps cut. But others correctly predicted the RBI would wait until its next policy review in April.

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