New Delhi: The Reserve Bank has kept the repo rate stable at 5.15 percent in the last monetary policy review meeting of the starting financial year. There is no change in the repo rate in the second meeting. While announcing the results of the Monetary Policy Committee meeting on Thursday, the Reserve Bank said that as long as possible, it will keep the policy stance liberal. The Reserve Bank maintained the possibility of an economic growth rate of five percent in 2019-20. He told that economic growth could improve to six percent in 2020-21.
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They told that the economic growth rate still according to the Reserve Bank, "economic activity remains soft. The select indicators, which have seen improvement in recent times, are yet to pick up on a broader scale and given the rising pace of inflation compared to the growth rate, the Monetary Policy Committee feels that the situation should be kept normal. He said that inflation is likely to remain high in the near future. He described the inflation scenario as very uncertain. The Reserve Bank said that all six members of the Monetary Policy Committee favored keeping the repo rate unchanged. It is noteworthy that the Reserve Bank had cut the Darmia repo rate by 1.35 percent from February 2019 to October 2019.
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Earlier, the Reserve Bank of India had not made any change in the policy rate in the monetary policy review. The central bank kept its stance liberal to support the economy, keeping the main rate repo at 5.15 percent. Since the central bank also reduced the estimate of gross domestic product (GDP) growth rate in 2019-20 from more than one percent to five percent. Earlier in the monetary policy review released in October, this estimate was at 6.1 percent.
