ECONOMY
RBI leaves Repo Rate unchanged at 6.5% for the tenth time in a row
- IBJ Bureau
- Oct 10, 2024
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has opted to maintain the key Repo Rate at 6.5 per cent for the 10th consecutive time.
RBI Governor Shaktikanta Das said that five members of the six-member MPC voted in favour of keeping the policy Repo Rate unchanged at 6.5 per cent.
“After evaluating the macroeconomic conditions and future outlook, the MPC decided, with five out of six members in agreement, to maintain the policy rate at 6.5 per cent,” said Mr Das.
Wednesday marks the tenth consecutive meeting in which the central bank’s six-member MPC has decided to keep the key policy rate unchanged.
The Standing Deposit Facility (SDF) rate remains at 6.25 per cent, and the Marginal Standing Facility (MCF) and the Bank Rate stand unchanged at 6.75 per cent.
The central bank has projected real GDP growth for FY25 at 7.2 per cent, while the inflation forecast for the financial year is estimated at 4.5 per cent. Mr Das said that the real GDP grew by 6.7 per cent in Q1.
Dharmendra Raichura, the V-P and head of finance of the Ashar Group, said that this stable approach promotes overall stability, supporting economic momentum, while keeping inflation within control.
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