RBI rates unchanged

RBI rates unchanged

The Reserve Bank of India (RBI) kept the key policy rates unchanged even as it retained the growth target for 2015-16 at 7.6 per cent. The repo rate has been kept unchanged at 7.25 per cent, while the reverse repo stays at 6.25 per cent. The move was widely expected after a spike in food prices sent consumer inflation to an eight-month high.

According to RBI, government economic reforms and the timing of any increase in the US interest rates would be key factors that will determine whether the central bank cuts rates for a fourth time this year.

RBI in its statement said, "It is prudent to keep the policy rate unchanged at the current juncture while maintaining the accommodative stance of the monetary policy."

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