Five out of six committee members on Thursday voted to keep the policy repurchase rate unchanged at 6.5%, and stance unchanged at withdrawal of accommodation.
MUMBAI: India s central bank left rates unchanged on Thursday, signalling that interest rate cuts may be some time away as it focuses on the last mile of disinflation towards its 4 percent.
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On Friday, the weighted average rate on tri-party repos closed at 6.32%, almost 20 basis points lower than the RBI s repo rate of 6.5%, Clearing Corporation of India (CCIL) data showed. In theory, overnight rates are supposed to be closely aligned with the repo rate, which is the rate at which the RBI lends to banks.