RBI keeps key rates unchanged

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    Mumbai, Feb 7 : The Reserve Bank of India (RBI) on Wednesday kept interest rates unchanged but hinted that monetary conditions are likely to remain tight because of rising risks to inflation.

    It raised its March-end Consumer Price Index (CPI) inflation forecast to 5.1 per cent and projected an inflation range of 5.1-5.6 per cent in the first half of the next fiscal year.

    The RBI has been in this mode for its previous two meetings also, after it last cut rates at its August 2017 meeting. The RBI’s Monetary policy committee had its sixth bimonthly meeting for this