RBI keeps policy rate unchanged for 10th time in a row
THE RESERVE Bank of India (RBI) on Wednesday decided to keep the policy rate unchanged for the tenth time in a row but changed its stance to ‘neutral’ that may lead to a cut in the forthcoming policies.
RBI maintained the status quo despite the US Federal Reserve lowering the benchmark rates by 50 basis points last month. The central banks of some developed nations have also reduced their interest rates.