The RBI in its third Bi-Monthly Monetary Policy review on 5th Aug 2014 maintained its status quo by keeping the repo and reverse repo rate unchanged at 8% and 7% respectively.
Of late the US fiscal cliff has been a cause of concern globally and Adrian Mowat, Chief Asian and Emerging Market Equity Strategist, believes markets around the world are likely to be volatile due to the debt ceiling negotiations.
Attributing rising commodity and crude oil prices to excess liquidity in the global market, Reserve Bank Governor D Subbarao today underlined the need for coordinated action to deal with the situation.