RBI Reduces Key Lending Rate by 0.5%

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RBI Reduces Key Lending Rate by 0.5%

BAHRS GLOBAL NEWS, 04 APRIL 2019
Staff Reporter, New Delhi : The Reserve Bank of India has once again reduced the benchmark lending rate by 0.25 per cent to 6 per cent, on Thursday.

Four members of the monetary policy committee (MPC) voted in favour of a rate cut, while Deputy Governor Viral Acharya and Chetan Ghate voted to maintain status quo.

The central bank has maintained ‘Neutral’ stance on the monetary policy.

The MPC noted the output gap remained negative and the domestic economy was facing headwinds, especially on the global front.

While projecting the gross domestic project (GDP) growth for 2019-20 at 7.2 per cent, the RBI revised downward retail inflation estimate to 2.4 per cent in Q4 FY-19.

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