The Reserve Bank of India maintained status quo on interest rates in its third quarter review of the Monetary Policy for 2008-09. The central bank left its repo rate, reverse repo rate and the cash reserve ratio (CRR) unchanged Tuesday.
The bank, however, cut its growth forecast for the fiscal year ending March.
The Reserve Bank of India (RBI) left its lending rate steady at 5.5 percent and its reverse repo rate, at which it absorbs cash from the banking system, unchanged at 4.0 percent.
The RBI also kept the cash reserve ratio, the amount of funds banks have to keep on deposit with it, unchanged at 5.0 percent.
No comments:
Post a Comment