RBI monetary policy: While the repo rate stays unchanged at 4 per cent, the reverse repo rate has been modified to three.5 per cent.
In the primary monetary policy of the new financial year, the RBI has saved the repo rate unchanged. “Now, two years later as we were emerging out of the pandemic situation, the global economy has seen tectonic shifts beginning February 24 with the commencement of the war in Europe, followed by sanctions and escalating geopolitical tensions,” RBI governor Shaktikanta Das mentioned in an tackle on Friday morning.
While the repo rate stays unchanged at 4 per cent, the reverse repo rate has been modified to three.5 per cent.
“The Monetary Policy Committee voted unanimously to leave the repo rate unchanged at 4 percent. The MPC also voted unanimously to keep stance accommodative. Reverse repo rate is hiked to ensure liquidity. The MSF rate and the bank rate remain unchanged at 4.25 per cent,” the RBI governor mentioned on Friday in a video tackle.
The central financial institution “has successfuly navigated its course through turbulent waters,” he underlined. “With the commencement of the war in Europe, we are confronted with new and humoungous challenges. The conflict in Europe has the potential to derail the global economy,” he insisted.