RBI keeps policy repo rate unchanged at 6.5 percent in latest monetary review meeting

The Reserve Bank of India (RBI) has kept the policy repo rate unchanged at 6.5 percent in its latest monetary review meeting. Briefing about the Monetary Policy Committee, MPC’s decision in Mumbai this morning, RBI governor Shakitkanta Das said that the committee has unanimously decided to keep key rates unchanged. This is for the fifth time in a row that the MPC has maintained the status quo.

He attributed declining inflation as reason behind maintain status quo the policy stance. The Governor said, real GDP growth for the current year 2023-24 is projected at 7 percent – with Quarter 3 at 6.5 percent and Quarter 4 at 6 percent. Real GDP growth for Quarter one of 2024-25 is projected at 6.7 percent, for Quarter 2 at 6.5 percent and for Quarter 3 at 6.4 percent. He added that the risks are evenly balanced.