Business Videos

RBI keeps repo rate, CRR unchanged

Dec 18 2012 00:00 IST
The RBI has left its key interest rates unchanged as expected today but said policy focus was shifting towards growth, reiterating its October guidance of further easing in the first quarter of 2013 as inflation was seen cooling. The RBI has been resisting calls from the government to cut rates due to elevated inflation, in contrast to other big emerging market central banks in China, Brazil and South Korea that have been more aggressive in easing policy to stimulate growth. The RBI, which had last cut its policy rate in April, held the repo rate unchanged at 8 percent and also kept the banks' cash reserve ratio (CRR) steady at 4.25 percent, its lowest since 1974.