Against Street expectations, RBI keeps repo rate unchanged at 6.50 per cent

RBI, in its October monetary policy meet, maintained a status quo and kept the repo rate unchanged at 6.50 per cent. The reverse repo rate has also been kept unchanged at 6.25 per cent. The central bank's move came against the Street expectations​​ as most of the experts had predicted a 25 basis points (bps) rate hike due to a weakening rupee and inflationary pressure due to high crude oil prices.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2pD26ZK