RBI Keeps Repo Rate Unchanged at 6.5%; Focus Remains on Inflation Target
The Monetary Policy Committee has voted unanimously to maintain the policy repo rate at 6.5%, retaining its stance of withdrawal of accommodation while observing retail food prices.
Reserve Bank of India headquarters in Fort, Mumbai, during the bi-monthly monetary policy announcement.
The Reserve Bank of India’s six-member Monetary Policy Committee (MPC) concluded its bi-monthly meeting by keeping the benchmark repo rate unchanged at 6.50%. The standing deposit facility (SDF) rate remains at 6.25%, and the marginal standing facility (MSF) rate at 6.75%.
Governor Shaktikanta Das noted in his policy statement that while economic activity has exhibited notable vigor across both services and manufacturing, headline CPI inflation warrants vigilant surveillance due to recurring climate-induced vegetable price shocks.
