The Reserve Bank of India in its three-day monetary policy committee meeting unanimously decided to keep the repo rate unchanged at 6.5 per cent, something most financial markets had expected.
RBI Governor Shaktikanta Das on Thursday at a press conference said, “Monetary Policy Committee decided unanimously to keep the Repo Rate unchanged at 6.50%”
RBI typically conducts six bi-monthly meetings in a financial year, where it decides interest rates, money supply, inflation outlook, and various macroeconomic indicators. The ongoing three-day and the third meeting of 2023-24 started on Tuesday.
In its previous meeting in early June, the central bank’s monetary policy committee unanimously decided to keep the repo rate unchanged at 6.5 per cent, something most analysts had expected. The RBI in its April meeting too had paused the repo rate.
The repo rate is the rate of interest at which RBI lends to other banks.
