The Reserve Bank of India on Wednesday kept the key rates unchanged even as the industry and the government hoping for interest rate cut to spur growth which fell to 3-year low of 5.7 per cent in the June quarter.
While the repo rate stay at 6 per cent, reverse repo rate will also remain unchanged at 5.75 per cent. The apex bank also cut economic growth forecast to 6.7 per cent from earlier projections of 7.3 pc.
The RBI said it expects inflation to rise from its current level and range between 4.2-4.6 per cent in 2nd half of 2017.
The fourth bi-monthly monetary policy statement for 2017 -18 was being keenly awaited by all stakeholders -- especially the industry which has been demanding for lower interest rates.
