RBI makes no change in repo rate, CRR
New Delhi, June 18 (ANI): The Reserve Bank of India (RBI) today kept its policy repo rate unchanged at 8 percent and left the cash reserve ratio (CRR) for banks at 4.75 percent. After the RBI's unexpected decision to hold rates steady, bond prices and stocks dropped while the rupee weakened against the dollar. The rupee weakened to 55.53 per dollar from around 55.35 before the RBI move. RBI in its monetary policy review said that while growth has moderated, inflation remains above comfort levels. The central bank said that factors other than interest rates were contributing to the growth slowdown.
