|
New Delhi, Feb 05: In line with the Union Budget, the Reserve Bank of India (RBI) on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the COVID-19 pandemic.
The RBI aslo projected a GDP growth rate of 10.5 per cent for the financial year beginning April 1, on the back of recovery in economic activities.
“Central bank to maintain accommodative monetary policy stance to support growth, keep inflation at targeted level,” Governor Shaktikanta Das said. “Inflation has returned to tolerance band of 4 per cent, he said.
It may be recalled that the committee kept the…
