SBI PO Mains Model Papers 5

Statement: However, the market participants are eagerly waiting for a possible change in GDP growth forecast, inflation target for FY 17, along with the RBI's commentary on foreign exchange reserves as around $30 billion of foreign currency non-resident bank deposits which are maturing in September. In its April review, the RBI had slashed the repo rate, the rate at which banks borrow from the central bank, by 0.25 percent to 6.50 percent, to a more than five-year low. Since January 2015, the RBI has cut its repo rate 150 basis points or 1.5 percent.
Which of the following negates the above steps taken by the RBI?