HomeEconomicsRBI MAINTAINS REPO RATE UNCHANGED AT 6.50%

RBI MAINTAINS REPO RATE UNCHANGED AT 6.50%

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  1. The MPC, led by RBI Governor Shaktikanta Das, decided to maintain key policy rates unchanged for the sixth consecutive meeting.
  2. The repo rate remains at 6.5%, with five out of six members voting in favor of this decision.
  3. The stance of ‘withdrawal of accommodation’ was also kept unchanged, with five out of six MPC members supporting it.
  4. Key policy rates remain as follows:
    • Repo rate: 6.5%
    • Standing Deposit Facility Rate: 6.25%
    • Marginal Standing Facility Rate: 6.75%
    • Bank Rate: 6.75%
    • Fixed Reverse Repo Rate: 3.75%
  5. The MPC remains committed to actively pursuing disinflationary monetary policy.
  6. Economic momentum is expected to continue in fiscal year 2024-25, with GDP growth forecast at 7% for the year.
  7. GDP growth forecasts for each quarter of FY25 have been revised upwards.
  8. The MPC projects inflation to decline to 4.5% in FY25, with CPI inflation forecasts adjusted for each quarter.
  9. The January-March 2024 (Q4FY24) CPI inflation forecast has been revised downward to 5.0% from 5.2%.
  10. CPI inflation forecasts for FY25 have been adjusted accordingly for each quarter, reflecting a downward trend in inflation expectations.
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