RBI retains repo rate at 6.5 pc for sixth consecutive time
PTI, Feb 8, 2024, 10:27 AM IST
Mumbai: The Reserve Bank of India on Thursday decided to keep policy rate unchanged for the sixth time in a row as it maintains a tight vigil on inflation.
The rate increase cycle was paused in April last year after six consecutive rate hikes aggregating to 250 basis points since May 2022.
Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das on Thursday said the Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 6.5 per cent.
He said MPC will remain watchful of food inflation so that the benefits gained are not frittered away.
This is the first bi-monthly policy following presentation of Interim Budget 2024-25 last week.
In December, the Consumer Price-based Inflation (CPI) stood at 5.69 per cent.
The government has mandated RBI to ensure CPI inflation at 4 per cent with a margin of 2 per cent on either side.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Windfall RBI dividend ‘positive’, usage to signal new govt’s fiscal priorities: Ratings agencies
Decided to move on, will continue till successor is found: SPNI MD Singh
Sensex hits new all-time high; Nifty breaches 23,000-mark for first time
IndiGo to introduce business class in select routes this year
Air India gives salary increments to staff; announces target performance bonus for pilots
MUST WATCH
Latest Additions
Pune car crash: Teen’s family driver was offered cash, gifts and later threatened to take blame, say police
Udupi gang clash: Police arrest three, seize weapons
CM Siddaramaiah visits Dharmasthala, Meets Dharmadhikari Dr D Veerendra Heggade
SP and Congress were negligent in dealing with terrorism: UP CM Adityanath
LS polls: Kejriwal snubs ex-Pak minister; says won’t tolerate interference by sponsors of terrorism