RBI Keeps Repo Rate Unchanged At 6. 5 Per Cent For Third Time In A Row

Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday (10 August) announced the third bi-monthly monetary policy for the financial year 2023-24.

The RBI Governor announced that the Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 6.5 per cent, maintaining status quo for the third time in a row.

The three-day meeting of the six member MPC of RBI was held from 8 to 10 August. 

Further, the Standing Deposit Facility rate was also retained at 6.25 percent.

Das announced that the MPC also decided to remain focused on withdrawal of accommodation with preparedness to act should situation so warrant.

He added that the MPC remains resolute in its commitment to align inflation with the 4 per cent target and anchor inflation expectations.

Das said that headline inflation would increase in near time owing to vegetable prices rice which will cool down in the coming months.