MPC maintains accommodative stance, keeps rates unchanged

MPC maintains accommodative stance, keeps rates unchanged

Mumbai: To subdue unabatedly high inflation rate, the Reserve Bank of India (RBI) maintained the key lending rates.

Accordingly, the Monetary Policy Committee of the central bank maintained the repo rate — or short-term lending rate for commercial banks, at 4 per cent.

The MPC voted to maintain accommodative stance, thus opening up possibilities for more future rate cuts.