Policy rates unchanged

Why is it in news?
  • The Monetary Policy Committee (MPC) of RBI left benchmark interest rates unchanged.
Details:
  • The MPC kept the RBI’s key lending rate, the repo rate, steady at 4%.
  • MPC retained an ‘accommodative’ stance as it prioritised support for the economy over ‘sticky’ inflation amid the COVID-19 pandemic.
  • The RBI also brightened its outlook for the economy, projecting that the GDP contraction would narrow to 7.5% for the financial year ending in March 2021.
 
 
 
 
 
Posted by Jawwad Kazi on 5th Dec 2020
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