RBI holds rate for Second Time in a Row

09 Jun

RBI holds rate for Second Time in a Row

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RBI Updates

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  • The Reserve Bank of India kept the interest rates unchanged for the second straight monetary review meeting amid abating price pressures and showed a favourable picture on medium term economic growth that is likely to be the best among the world economies.
  • The RBI Governor showed a clearer path to the future, though the political developments and erratic weather conditions remain unknown quantities.
  • RBI lowered the inflation forecast marginally for the fiscal year to 5.1% and the reason quoted was “Adequate supplies”. The economic growth has been pegged at 6.5% for Financial Year 2024.
  • The six member Monetary Committee voted unanimously to keep the Repo rate or the rate at which Central Bank lends to bank at 6.5%.

 

 

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