RBI February Monetary Policy Central Bank Leaves Repo Rate Unchanged at 5.15%
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) kept the repo rate unchanged in the February policy, the last of the current financial year and the first of the new decade, on the back of rising retail inflation. This is the second time in a row that the central bank has left the repo rate unchanged. With no change again, the repo rate stands at 5.15 percent.
The central bank has maintained its policy stance at “accommodative”, while the reverse repo rate has been maintained at 4.90 percent.
The repo rate is the rate at which the central bank of the country lends funds to the commercial banks. The commercial banks borrow funds only if they witness a shortfall in their funds. The monetary policy committee of a country uses the reverse repo rate as a tool to control the money supply in the country.
The repo Rate was cut five times last year, with the total reduction coming to 1.35 percent or 135 basis points.
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