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wizard Published this articles Page No 251
Following a meeting of its Monetary Policy Committee (MPC)
on Aug 7
the RBI once again cut its repo rate by an unexpected 35 basis points or bps (035 per cent) rather than
the customary
25 bps It was the central banks
fourth rate cut in a row since Shaktikanta
Das became its governor Following the latest rate cut the cumulative back-to-back reduction in the repo rate this year has been to the tune of 11 per cent with the rate currently at 54 per cent The committee reduced the repo rate to 540 per cent from 575 per cent It lowered the reverse repo rate to 515 per cent from 550 per cent The MPC has maintained its policy stance as accommodative meaning that it is in favour of lowering the
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