Discussion
RBI cut repo rate to ___ on Aug 2, 2017.
Answer: C
Correct answer: 6 percent
On 2 August 2017 the Monetary Policy Committee cut the repo rate by 25 basis points to 6 per cent, the lowest in several years at the time, with the reverse repo falling correspondingly to 5.75 per cent.
The reduction was justified by inflation having fallen well below the 4 per cent target, giving the Committee room to support growth. It was the only cut of that financial year, the Committee holding rates at subsequent meetings as inflation began to firm.
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