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RBI keeps repo rate unchanged in monetary policy announcement

This is the fourth year RBI has held the repo rate unchanged.

This is the fourth year RBI has held the repo rate unchanged.

On Friday, Shaktikanta Das, the Governor of the Reserve Bank of India (RBI), unveiled the bi-monthly monetary policy for the financial year 2023-24. 

The central bank has chosen to maintain the status quo by keeping the repo rate steady at 6.5%. This marks the fourth consecutive time that the RBI has opted to keep the repo rate unchanged.

Governor Das’ Statement

Governor Shaktikanta Das emphasized the decision’s unanimous nature, stating, “After a detailed assessment of the evolving macroeconomic and financial developments and the outlook, RBI’s Monetary Policy Committee decided unanimously to keep the Policy Repo Rate unchanged at 6.5%.”

This decision signifies the RBI’s commitment to its existing monetary policy stance amid evolving economic and financial conditions. 

It reflects the central bank’s assessment of the need for stability and continuity in its policy measures during the fiscal year 2023-24. 

The RBI will continue to closely monitor economic developments and adjust its policies as necessary to support India’s economic goals and financial stability.

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