RBI MPC Meeting: Repo Rate Remains Unchanged At 6.5%
Date
12/8/2023 4:00:37 AM
(MENAFN- AsiaNet News) RBI Governor Shaktikanta Das on Friday (December 8) addressed the media and confirmed that the Monetary Policy Committee's decision to maintain the policy repo rate at 6.5%, alongside unchanged rates for the Standing Deposit Facility, Marginal Standing Facility, and bank Rate.
This decision marks the fifth time the 6-member Monetary Policy Committee (MPC) opted to keep the interest rates unchanged. Addressing the media, Das said, "After a detailed assessment... the Monetary Policy Committee decided unanimously to keep the policy repo rate unchanged at 6.5%."
He noted that 5 out of the 6 MPC members focused on the "Withdrawal of Accommodation" to align inflation progressively to the 4% target while supporting growth.
Das opened his speech by highlighting the persistent global economic uncertainty. Although signs of slowdown are evident in specific regions and sectors, the awaited normalcy in the global economy remains elusive, according to the Governor.
(This is a developing story.)
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