RBI keeps key interest rate unchanged at 6% with neutral stance

MUMBAI: The Reserve Bank of India (RBI) kept its key interest rate unchanged at 6 per cent for the fourth time in succession at its final bi-monthly monetary policy review of the fiscal, citing concerns about the inflationary push by rising global crude oil prices.

Announcing the policy review, the RBI said its decision is consistent with the neutral stance of the central bank aimed at achieving its median inflation target of 4 per cent. 

The continuing rise in food and fuel prices pushed India's annual retail inflation rate over the five per cent mark in December 2017 to 5.21 per cent, from 4.88 per cent in November 2017.