The six-member monetary policy committee (MPC) on Thursday decided to keep its short-term lending rate — repo rate rate — unchanged at 5.15 per cent in the sixth bimonthly policy review of the ongoing financial year.
The RBI maintained it accommodative stance to support growth and said that there is policy space available for future action.
The central bank raised its CPI inflation forecast for the first half of FY21 to 5-5.4 per cent. It pegged FY21 GDP growth at 6 per cent.
The RBI said the economy continues to be weak and output gap remains negative. All six members of the Monetary Policy Committee vote in favour of maintaining status quo on interest rate.
RBI anticipates inflation to remain elevated in short-run; overall, inflation outlook remains highly uncertain.