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Just In: RBI keeps repo rate unchanged at 6.50%

The Reserve Bank of India (RBI), surprising the street expectation of at least a quarter percentage rate hike in its fourth bi-monthly policy announcement, has kept repo rate unchanged at 6.50%. Consequently, the reverse repo rate under the LAF stood at 6.25%, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75%. However, the central bank has changed its stance on the key policy rates to ‘calibrated tightening’.

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