Mumbai: The Reserve Bank of India (RBI) on Thursday maintained the key lending rates, leaving them unchanged.
Accordingly, the Monetary Policy Committee (MPC) 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.
This is the 24th meeting of the MPC.
In its last Monetary Policy on May 22, the Reserve Bank of India unexpectedly slashed the repo rate by 40 bps to 4%. The reverse repo rate was also reduced by 40 basis points to 3.35%.