Mumbai:
The Reserve Bank of India (RBI) today decided to keep its key lending rate unchanged at 6.5% for the fourth consecutive time. The decision was taken unanimously at the central bank’s Monetary Policy Committee (MPC) meeting, said RBI Governor Shaktikanta Das.
This means the loan interest rates too are likely to remain unchanged.
The overall inflation outlook is clouded by uncertainties, said the RBI Governor, adding that the banking system remains resilient.
“The overall inflation outlook is clouded by uncertainties from the fall in Kharif sowing for certain key crops like pulses and oil seeds, lower reservoir levels and volatility in global food and energy prices,” said Mr Das.
The RBI expects retail inflation to be 5.4% for the current financial year and reduce to 5.2% in the first quarter of the next fiscal.