RBI retains repo rate at 6.5%

Chennai, Feb 8 (IANS) Not belying the expectations of senior economists, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) retained the repo rate at 6.50 per cent.

The repo rate is the rate at which the RBI lends to the commercial banks.

Announcing the decision of the MPC after its three-day deliberations, RBI Governor Shaktikanta Das said on Thursday that the committee decided to keep the repo rate at 6.5 per cent.

The MPC also decided not to change its stance from ‘withdrawal of accomodation’.

The MPC met on February 6-8.