India's central bank left its key interest rate unchanged, as widely expected, and maintained its accommodative stance.
The Monetary Policy Committee of the Reserve Bank of India, led by Governor Shaktikanta Das, unanimously decided to retain the policy repo rate at 4.00 percent. The reverse repo rate was left unchanged at 3.35 percent.
The marginal standing facility rate and the bank rate remained unchanged at 4.25 percent.
The central bank today downgraded its growth outlook for the fiscal year 2022-23 to 7.2 percent from 7.8 percent.
At the same time, the bank raised its inflation forecast for the current fiscal year to 5.7 percent from 4.5 percent.
