RBI Holds Rate Steady at 6.5%

  • The Reserve Bank of India's Monetary Policy Committee (MPC) opted to maintain the repo rate, the key interest rate, at 6.5% on April 5th, 2024.
  • This marks the seventh consecutive time the MPC has kept rates unchanged.
  • The decision reflects a balancing act between controlling inflation and supporting economic growth.
  • RBI Governor Shaktikanta Das highlighted a decline in core inflation but acknowledged concerns about volatile food prices.
  • The MPC remains focused on ensuring inflation returns to the target of 4% while maintaining a growth forecast of 7% for the financial year 2024-25.

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