RBI Retains Repo Rate at 6.5%, GDP Projected at 6.5%
IANS 10 August 2023
As predicted by economists, the Reserve Bank of India's Monetary Policy Committee (MPC) did not change the repo rate from 6.50%.
 
Announcing the decision of the MPC after its three-day deliberations, RBI governor Shaktikanta Das said on Thursday that the committee unanimously decided to keep the repo rate at 6.5%.
 
Mr Das said taking into account the economic factors, the MPC has predicted GDP growth at 6.5% in FY24.
 
As regards the inflation rate, the MPC forecast was 5.4% for 2023-24, taking into account the various domestic and global factors.
 
Mr Das also said uncertainty exists due to geopolitical situation, monsoon and others.
 
The MPC met on  8th, 9th and 10th August.
 
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