Mumbai: The Reserve Bank of India is "comfortable" with interest rates being "slightly" higher than its stated preference of having a difference between the repo rate and the inflation target of 1.75 percent, Deputy Governor Viral Acharya said on Wednesday.
The difference now stands at 2 percent, after the RBI cut the repo rate by 25 basis points to 6 percent, above the central bank`s inflation target of 4 percent.
"I think we are just slightly outside of the range of 1.75 percent and we are comfortable with that," Acharya said.
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