RBI stands pat today, leaves Repo rate unchanged at 6.25%

The Indian central bank, Reserve Bank of India (RBI) surprised markets by keeping benchmark interest rates unchanged at its policy meeting today.

The RBI left repo rate unchanged at 6.25% and reverse repo rate unchanged at 5.75%.

Markets believed that the central bank would reduce rates maximum by 0.50% today, in order to boost growth in wake of demonetization.