The Reserve Bank of India (RBI) RBI keeps repo rate unchanged at 6.5 per cent. Inflation is expected to moderate in the current fiscal. New Delhi: Taking note of the global economic uncertainty, the Reserve Bank of India (RBI) on Thursday decided to keep key benchmark policy rate at 6.5 per cent. RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) today announced the announced the bi-monthly monetary policy and said that the the Monetary Policy Committee (MPC) will not hesitate to take action in the future.
It may be noted that the RBI did not hiked the Repo Rate after it increased it six times consecutively that aggregated to 250 basis points since May 2022.
Shaktikanta Das projected a growth rate of 6.5 per cent as compared to 6.4 per cent estimated in February.
"What we are witnessing today is unprecedented uncertainty in geopolitics, economic activity, price pressures, and financial markets never seen before. The decision to pause on the repo rate is for this meeting only" and the bank's Monetary Policy Committee remained "focused on withdrawal of accommodation", Das was quoted by Reuters as saying. Das assured that the RBI remains vigilant and is ready to face challenges with firm commitment to price and financial stability.
The Equity benchmark indices recovered from early losses after RBI kept the repo rate unchanged also gave a sigh of relief on the inflation front.
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