The RBI kept interest rates stable, not expecting loans to become cheaper

Mumbai: The RBI today announced its lending policy. In which once again showing the reason for rising inflation has kept interest rates stable. RBI Governor Shaktikant Das addressed a press conference today after reviewing the three-day meeting of the RBI’s Monetary Policy Committee. He said the meeting decided not to make any change in interest rates. The repo rate is currently 4 percent and the reverse repo rate is 3.35 percent. The cash reserve ratio is 3 per cent and the bank rate is 4.25 per cent. SLR, on the other hand, is at 18 per cent and MSF at 4.25 per cent.

The RBI’s December monetary policy review meeting once again made no change in key interest rates. This decision has been taken in view of the high level of retail inflation. Retail inflation is at a satisfactory level of the Reserve Bank at the moment. This is the third time in a row that the six-member Monetary Policy Committee, chaired by RBI Governor Shaktikant Das, has not changed the repo rate and reverse repo rate.

The Reserve Bank expects inflation to ease during the winter. “We are committed to making enough cash available in the economy,” Das said. All necessary steps will be taken if required. They have projected a GDP growth of 7.5 per cent in the current financial year. Interest rates were cut by 0.40 per cent in May and 0.75 per cent in March. In February this year, the Reserve Bank cut the repo rate by 1.15 per cent.

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