RBI Policy reflects growth dynamics for long-term stability, says Chanda Kochhar

| Updated: Feb 09, 2017 00:19 IST

New Delhi [India], Feb 8 (ANI): Hailing the Reserve Bank of India's (RBI) decision to keep the repo rate unchanged at 6.25 percent on Wednesday, MD and CEO ICICI Bank, Chanda Kochhar said that the policy reflects the need to balance inflation and growth dynamics, which will provide long-term stability. "The decision to keep the policy rate unchanged and the change in stance from accommodative to neutral is based on a judicious assessment of risks going forward," said chief of the private sector lender Chanda Kochhar. She further said that the monetary policy committee has highlighted concerns around the global policy environment, impact of rising global commodity prices and domestic inflation. "The focus on the medium term inflation target of four percent and the emphasis laid on a durable inflation trend will be growth supportive," she added. The RBI kept the repo rate unchanged at 6.25 percent on Wednesday amid concerns about rising commodity prices. The central bank also shed India's growth forecast to 6.9 percent in 2016-17 while conceding demonetization's "transient" impact on spending and investment. (ANI)
iocl