Business

RBI keeps ‘Repo rate’ unchanged at 6 per cent

By Hemant Pande

December 2017

KalingaTV News Network

Mumbai: The Reserve Bank of India (RBI) has kept the short-term lending rate, also known as repo rate, unchanged at 6 per cent in its fifth bi-monthly monetary policy review for the year 2017-18 today.

The central bank has also raised inflation forecast to 4.3-4.7 per cent in the third and fourth quarters of current fiscal and kept the economic growth forecast unchanged at 6.7 per cent.

The RBI said Farm loan waiver, partial rollback of duty on fuel, cut in GST rates on several items may result in fiscal slippage.

The next meeting of the monetary policy committee is scheduled on February 6 and 7, 2018.