RBI MPC: Gov Sanjay Malhotra keeps the ribau unchanged at 5.5 %

RBI MPC: The Governor of the Indian Reserve Bank (RBI), Sanjay Malhotra, announced at the MPC meeting on Wednesday that the central bank will maintain the rate of re -purchase in politics unchanged at 5.5 percent. MPC also decided to continue the “neutral” position. The governor said that the uncertainty in the definitions is still continuing.

“The Monetary Policy Committee met on August 4, 5 and 6 to deliberate and decide on a policy re -purchase rate. After a detailed assessment of the macroeconomic economy and advanced financial developments, MPC voted unanimously to maintain the rate of ribo in politics in light of the liquidity facility that has not changed at 5.5 percent.”

In the previous MPC in June, the RBI reduced the Ribo policy rate by 50 basis points (BPS) to 5.5 percent with an immediate effect. The central bank changed its position on “equal” to “neutral”.

RBI ruler said the effect of reducing the average of 100 basis points is still revealing. RBI has reduced the rate of 100 basis in the rapid caliphate since February.

The governor said that local growth is proven and spinned on the evaluation lines. “Although there are some high -frequency indicators that showed missing signals in May this year, rural consumption is still flexible during the revival of urban consumption. The firm investment supported by the booming government CAPEX continues to support economic activity,” he said.