On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) today maintained status quo, keeping the repo rate unchanged at 6%.
The reverse repo rate under the liquidity adjustment facility (LAF) remains at 5.75%, and the marginal standing facility (MSF) rate and the Bank Rate at 6.25 per cent.
The decision of the MPC is consistent with the neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.
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