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RBI MPC Meet 2024 Highlights: Repo rate unchanged at 6.5% for 9th time in a row
RBI MPC Meet 2024 Highlights: RBI kept the repo rate unchanged marking the ninth consecutive time that the benchmark rate remains at 6.5%.
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RBI MPC Meet 2024 Live: RBI governor Shaktikanta Das is announcing the Monetary Policy today. Stay tuned for latest updates on repo rate decision and more.
RBI MPC Meet 2024 Highlights: The Reserve Bank of India (RBI) governor Shaktikanta Das announced Monetary Policy decision today (August 8). The Monetary Policy Committee (MPC) held its third bi-monthly policy meeting from August 6 to August 8. RBI kept its key interest rate unchanged, as widely expected, as the central continued its efforts to sustainably lower inflation towards its 4% target. The Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.50% for a ninth straight policy meeting....Read More
Radhika Rao, senior economist, DBS Bank said, “Policy guidance reinforced that domestic considerations will be prioritised, despite a sharp buildup in rate cut pricing for the US Fed. The RBI MPC retained its cautious tone on inflation, in the face of an anticipated passthrough from perishables price pressures and tariff adjustments. With domestic demand conditions calling for a focus on inflation, we expect the policy rate to stay on hold for the rest of the year.”
Experts widely expected the RBI MPC to keep the benchmark repo rate unchanged at 6.5% and maintain the policy stance of ‘withdrawal of accommodation’.
What was decided in RBI MPC in June?
In June, the RBI MPC voted 4-2 to maintain the repo rate at 6.5% for the eighth consecutive time and persist with its stance of ‘withdrawal of accommodation’. The RBI then revised its GDP growth forecast for FY25 to 7.2%, up from the previous estimate of 7% and the inflation forecast for FY25 remained unchanged at 4.5%.
When are next RBI MPCs?
The Reserve Bank of India (RBI) is scheduled to hold MPC meetings on these dates-- October 7-9, December 4-6 and February 5-7, 2025.
