RBI retains repo rate at 6.5 percent

MPC has predicted GDP growth at 6.5 percent in FY24

Chennai: As predicted by economists, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) did not change the repo rate from 6.50 percent.

Announcing the decision of the MPC after its three-day deliberations, RBI Governor Shaktikanta Das said on Thursday that the committee unanimously decided to keep the repo rate at 6.5 percent.

Das said taking into account the economic factors, the MPC has predicted GDP growth at 6.5 percent in FY24.

MS Education Academy

As regards the inflation rate, the MPC forecast was 5.4 percent for 2023-24 taking into account the various domestic and global factors.

Das also said uncertainty exists due to geopolitical situation, monsoon, and others.

The MPC met on August 8th, 9th and 10th.

Back to top button