Repo rate lowest since 2010 after RBI’s third cut

Emboldened by benign inflation and availability of buffer foodgrain stock, RBI’s monetary policy committee (MPC) voted unanimously to bring down the repo rate from 6% to 5.75% — the lowest since September 2010. Repo rate is the price commercial banks pay to the RBI for short-term funds. RBI also hinted at more cuts by changing its policy stance from “neutral” to “accommodative”.

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