Mumbai, August 8: The Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 6.5 per cent for the ninth consecutive time for stability in its monetary policy amid ongoing economic uncertainties.
"After a detailed assessment of the evolving macroeconomic and financial conditions and the overall outlook, it is decided by a majority of four members to keep the policy repo rate unchanged at 6.5 per cent," Governor Shaktikanta Das stated,
The standing deposit facility rate remains at 6.25 per cent and the marginal standing facility rate and the bank rate at 6.75 per cent. The MPC also decided by a majority of four out of six members to remain focused on the withdrawal of accommodation to ensure that inflation progressively aligns with the target while supporting growth. So as you can see, there is this good amount, he added.
The decision to keep the repo rate steady comes amidst persistent concerns about inflation, which remains above the RBI's target range. The central bank's commitment to bringing inflation down to its 4 per cent target continues to face challenges due to ongoing food inflation and other economic factors.
