Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
New Delhi, December 5 (Xinhua) — The Reserve Bank of India on Friday announced a cut in the repo rate, at which commercial banks borrow when they are short of funds, by 25 basis points to 5.25 percent.
“Following a detailed assessment of the evolving macroeconomic and financial developments and prospects, the Monetary Policy Committee unanimously voted to reduce the repo rate under the liquidity management mechanism to 5.25 percent,” the regulator said in a statement.
“Therefore, the rate on standing deposits should be adjusted to 5.00 percent, and the marginal rate on standing operations and the bank rate to 5.50 percent,” the central bank reported.
As noted, the Monetary Policy Committee also decided to continue to maintain a neutral stance.
The Monetary Policy Committee of the Reserve Bank of India is responsible for setting the country's benchmark interest rate. –0–
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