Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Technology
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Visual Stories
  • Reviews
  • Phone Reviews
  • Fitness Bands Reviews
  • Speakers Reviews
  • Find Cricket Statistics
Hindi
More
In the news
Twitter
Cryptocurrency
Sensex
Inflation
Stock Market
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Technology
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Visual Stories
Reviews
Phone Reviews
Fitness Bands Reviews
Speakers Reviews
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / RBI keeps repo-rate unchanged at 6% for second consecutive time
Business

RBI keeps repo-rate unchanged at 6% for second consecutive time

RBI keeps repo-rate unchanged at 6% for second consecutive time
Written by Gogona Saikia
Dec 06, 2017, 03:01 pm 2 min read
RBI keeps repo-rate unchanged at 6% for second consecutive time

The RBI's six-member Monetary Policy Committee (MPC) has kept the repo rate unchanged at 6%, second time in a row, in its fifth bi-monthly policy review. The last time the committee had cut the lending rate was in August, when it was reduced by 25 basis points. In a Reuters poll, 52 of 54 economists had predicted a status quo on the policy rate.

Definition
What is the repo rate?

Repo rate is referred to the rate used by the RBI to lend money to commercial banks whenever there arises a shortage in funds. The repo rate is also used to control inflation in the country, where the RBI increases the rate to lower inflation.

Factors
What factors decided the move?

Experts had predicted constant repo rate after the latest review, which still stands at a seven-year low. They attributed the move to a rise in inflation readings and crude oil prices, cuts in GST rates and rising risk of fiscal slippages. Moreover, the US Federal Reserve is expected to hike interest rates in December, thus encouraging the RBI to refrain from a rate cut.

Future
Economic predictions for the upcoming months

The RBI, in its statement, said that it expects inflation to stay in the 4.3-4.7% bracket in the December and March quarters. This, after factoring in the effect of HRA up to 35 basis points. With the onset of winter, some seasonal moderation is also likely in prices of vegetables. Meanwhile, GST rate cuts should "translate into lower retail prices," it said.

Share this timeline
Facebook
Whatsapp
Twitter
Linkedin
Gogona Saikia
Gogona Saikia
Mail
“I may be on the side of the angels, but don’t think for one second that I am one of them.” Delhi University. Freethinker. “Social justice warrior”.
Latest
India
Reserve Bank Of India (RBI)
Banking
Repo Rate
US Federal Reserve
Related
Latest
'Beast' to 'Puzhu': 5 films for your weekend OTT watchlist
'Beast' to 'Puzhu': 5 films for your weekend OTT watchlist Entertainment
Very rare Mercedes-Benz 300 SLR becomes world's most expensive car
Very rare Mercedes-Benz 300 SLR becomes world's most expensive car Auto
Cancer prevention, better immunity, and more: Health benefits of pomegranate
Cancer prevention, better immunity, and more: Health benefits of pomegranate Lifestyle
PBKS complete the double over RCB in IPL 2022
PBKS complete the double over RCB in IPL 2022 Sports
Statistical preview of Bangladesh vs Sri Lanka Test series
Statistical preview of Bangladesh vs Sri Lanka Test series Sports
India
Late Danish Siddiqui awarded 2nd Pulitzer for photographing COVID-19 deaths
Late Danish Siddiqui awarded 2nd Pulitzer for photographing COVID-19 deaths World
WHO report claims India underreported COVID-19 deaths; India strongly objects
WHO report claims India underreported COVID-19 deaths; India strongly objects India
India: Phase-2 trials of world's first one-shot pneumococcal vaccine soon
India: Phase-2 trials of world's first one-shot pneumococcal vaccine soon India
COVID-19: India reports 2,568 new cases, 20 more deaths
COVID-19: India reports 2,568 new cases, 20 more deaths India
Majority of India's workforce has stopped looking for jobs: Report
Majority of India's workforce has stopped looking for jobs: Report India
More News
Reserve Bank Of India (RBI)
Hindustan Unilever hikes product prices for second time within month
Hindustan Unilever hikes product prices for second time within month Business
Apple stops accepting credit or debit cards for subscriptions, purchases
Apple stops accepting credit or debit cards for subscriptions, purchases Business
RBI keeps key interest rates unchanged for 11th consecutive time
RBI keeps key interest rates unchanged for 11th consecutive time Business
Taxing cryptocurrency is government's sovereign right: FM Sitharaman
Taxing cryptocurrency is government's sovereign right: FM Sitharaman Business
RBI maintains lending rates; 7.8% GDP growth projected in 2022-23
RBI maintains lending rates; 7.8% GDP growth projected in 2022-23 Business
More News
Banking
Some banking rules that will change from next month (October)
Some banking rules that will change from next month (October) Business
Banks closed up to 21 days in October: Check list
Banks closed up to 21 days in October: Check list Business
#NewsBytesExclusive: How the Russian start-up JuicyScore strategizes credit fraud prevention
#NewsBytesExclusive: How the Russian start-up JuicyScore strategizes credit fraud prevention Inspirational
Two-day bank strike from today: These services would be affected
Two-day bank strike from today: These services would be affected Business
Yes Bank resumes full banking services as RBI lifts moratorium
Yes Bank resumes full banking services as RBI lifts moratorium Business
More News
Repo Rate
RBI MPC keeps repo rate unchanged at 4%
RBI MPC keeps repo rate unchanged at 4% Business
Repo rate untouched, 10.5% GDP growth predicted in 2021-22
Repo rate untouched, 10.5% GDP growth predicted in 2021-22 Business
RBI predicts FY21's real GDP-growth at -7.5%; repo rate unchanged
RBI predicts FY21's real GDP-growth at -7.5%; repo rate unchanged Business
As economy suffers, RBI keeps repo rate unchanged
As economy suffers, RBI keeps repo rate unchanged Business
Reserve Bank of India keeps repo rate unchanged at 5.15%
Reserve Bank of India keeps repo rate unchanged at 5.15% Business
More News
US Federal Reserve
Why Sitharaman's stimulus package has left stock market unimpressed
Why Sitharaman's stimulus package has left stock market unimpressed Business
Facebook co-founder bashes company's cryptocurrency plans, calls them 'frightening'
Facebook co-founder bashes company's cryptocurrency plans, calls them 'frightening' Business
US Federal Reserve raises lending rate; signals slower pace ahead
US Federal Reserve raises lending rate; signals slower pace ahead World
35 US-banks would survive global economic recession: US Federal Reserve
35 US-banks would survive global economic recession: US Federal Reserve Business
Rupee weakens yet again; tanks 23 paise against USD
Rupee weakens yet again; tanks 23 paise against USD Business
More News
Related
RBI keeps repo rate unchanged at 4%
RBI keeps repo rate unchanged at 4% Business
RBI keeps repo rate at 4%, cuts GDP growth projection
RBI keeps repo rate at 4%, cuts GDP growth projection Business
Next News Article
Next News Article

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Technology News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Mukesh Ambani Indian Premier League (IPL) Karnataka Samsung Xiaomi West Bengal
Bihar Virat Kohli Rohit Sharma Haryana Narendra Modi Arvind Kejriwal Tamil Nadu Gujarat Yogi Adityanath YouTube
Instagram Hollywood News Uttar Pradesh Kerala Netflix Bollywood News Mamata Banerjee Maruti Suzuki Rahul Gandhi Elon Musk
Shah Rukh Khan Chelsea FC OPPO Akhilesh Yadav Indian Cricket Team Apple Manchester United Salman Khan Cryptocurrency OnePlus
Amitabh Bachchan ICC Women's World Cup Vivo India vs Sri Lanka
About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive IPL 2022 Schedule IPL 2022 Points Table Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2022