RBI keep key rates unchanged

Mumbai, Dec 4 (Agency) The Reserve Bank of India on Friday kept the key rates unaltered. The Repo rate was at 4 per cent, while Reverse Repo rate remained at 3.35 per cent.

The decision comes against the backdrop of the September quarter Q2 GDP turning out to be better than RBI’s earlier projections. GDP contracted by 7.5 per cent in the July-September quarter, lower than the central bank’s prediction of 8.6 per cent. The RBI last changed policy rate on May 22. Third time in a row that the central bank has decided to maintain status quo. The three-day RBI bi-monthly policy was going on since Wednesday.