In his last policy meet RBI Governor Raghuram Rajan maintains status quo
He kept the key policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.5 per cent.
Similarly, the cash reserve ratio (CRR) of scheduled banks has been kept unchanged at 4.0 per cent of net demand and time liabilities (NDTL).
"As you will note from the policy statement, we have kept rates on hold, maintaining an accommodative stance while we await developments.We are within the inflation band given to us by the Government and expect to be around 5 per cent CPI inflation by March 2017..., " he said in a statement.
“It is appropriate for the Reserve Bank to keep the policy repo rate unchanged at this juncture, while awaiting space for policy action. The stance of monetary policy remains accommodative and will continue to emphasise the adequate provision of liquidity,” Rajan said.
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