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RBI keeps repo rate unchanged on expected lines

RBI hikes repo rate by 25bps; GDP growth projected at 6.4% for 23-24RBI’s Monetary Policy Committee (MPC) has unanimously decided to maintain the policy repo rate at 6.5%, as expected by economists and industry experts.

Highlighting the committee’s focus on managing inflation and supporting growth,  RBI Governor Shaktikanta Das said on Thursday that five out of six members voted in favor of maintaining a stance of “withdrawal of accommodation.” This approach aims to ensure that inflation gradually aligns with the target while still fostering economic growth.Das further acknowledged that headline inflation currently exceeds the 4% target and is projected to remain above the target for the rest of the year. He projected GDP growth for 2023-24 at 6.5%, which remains the same as in the previous MPC statement.

PR Newswire

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