Highlights

  • Reserve Bank of India monetary policy committee left the repo rate unchanged at 6.5%
  • Rates left unchanged for the 3rd time in a row
  • Inflation forecast revised upwards to 5.4% from 5.1% earlier

Latest news

5 terrorists killed in encounter with security forces in Jammu and Kashmir

5 terrorists killed in encounter with security forces in Jammu and Kashmir

SEBI Expands UPSI Definition, Strengthens ESG and Governance Frameworks

SEBI Expands UPSI Definition, Strengthens ESG and Governance Frameworks

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

No provision of free travel for Prayagraj Maha Kumbh Mela: Railways

No provision of free travel for Prayagraj Maha Kumbh Mela: Railways

\'Mereko marwaoge\': Rohit Sharma's hilarious response to Pujara, Rahane 'retirement mistake' goes viral

\'Mereko marwaoge\': Rohit Sharma's hilarious response to Pujara, Rahane 'retirement mistake' goes viral

Trains movement hit in Punjab as farmers squat on tracks as part of Rail Roko protest

Trains movement hit in Punjab as farmers squat on tracks as part of Rail Roko protest

Karan Aujla delivers electrifying performance in Delhi-NCR

Karan Aujla delivers electrifying performance in Delhi-NCR

Russian oil spill contaminates 50km of Black Sea beaches

Russian oil spill contaminates 50km of Black Sea beaches

RBI Monetary Policy 2023: Repo rate left unchanged at 6.5%

This is the third time in a row that the RBI monetary policy committee has remained status quo on the interest rates. Since May 2022, the repo rate has been raised by a total of 250 basis points to bring inflation under control

RBI Monetary Policy 2023: Repo rate left unchanged at 6.5%

For the third time in a row, the Reserve Bank of India Monetary Policy Committee has kept the repo rate unchanged at 6.5% and the withdrawal of accomodation stance has been maintained.

During the credit policy announcement, RBI governor Shaktikanta Das cautioned on the need to remain vigilent towards inflation. He also said the MPC is prepared to act, should the situation warrant.

On the inflation front, the Governor announced that the CPI forecast for 2023-24 has been revised higher to 5.4% from 5.1% that was projected earlier. The governor pointed out that while core inflation has softened from its recent peaks, headline inflation is expected to surge in the short term due to the spike in prices of tomatoes, cereals and pulses.

Meanwhile, Economists have also anticipated a significant surge in retail inflation for the month of July due to soaring food prices, estimating it to reach 6.7%.

RBI's GDP growth projection has been kept unchanged at 6.5% for 2023-24.

Since May 2022, the central bank has raised the repo rate by 250 basis points.

ADVERTISEMENT

Up Next

RBI Monetary Policy 2023: Repo rate left unchanged at 6.5%

RBI Monetary Policy 2023: Repo rate left unchanged at 6.5%

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

Indian Stock Market: Mixed Sectoral Performance Amid IPO Highlights

Indian Stock Market: Mixed Sectoral Performance Amid IPO Highlights

Parliamentary Panel bats for legal guarantee of MSP to protect farmers' interests

Parliamentary Panel bats for legal guarantee of MSP to protect farmers' interests

Bihar fully prepared to create robust business ecosystem, investment safe: Dy CM Samrat Choudhary

Bihar fully prepared to create robust business ecosystem, investment safe: Dy CM Samrat Choudhary

"If they tax us, we tax them...," Trump Signals Tough Trade Stance; Reciprocal Tariffs on India

"If they tax us, we tax them...," Trump Signals Tough Trade Stance; Reciprocal Tariffs on India

ADVERTISEMENT

editorji-whatsApp

More videos

Top 5 Losers of NIFTY 50: A Day of Decline for Leading Stocks

Top 5 Losers of NIFTY 50: A Day of Decline for Leading Stocks

India's renewable energy capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

India's renewable energy capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

 Indian Markets Open Lower Amid Caution Ahead of U.S. Federal Reserve Meeting

Indian Markets Open Lower Amid Caution Ahead of U.S. Federal Reserve Meeting

Five of top-10 most valued firms together add Rs 1.13 lakh Crore in market valuation

Five of top-10 most valued firms together add Rs 1.13 lakh Crore in market valuation

Airlines are price takers, they do not have influence on prices they pay: IATA Chief Economist

Airlines are price takers, they do not have influence on prices they pay: IATA Chief Economist

India’s import of Russian oil drops in November on shrinking discounts

India’s import of Russian oil drops in November on shrinking discounts

Auto Expo to see highest-ever participation of vehicle manufacturers: SIAM

Auto Expo to see highest-ever participation of vehicle manufacturers: SIAM

Russia Eases Travel Norms for India, Visa-Free Travel Expected by 2025

Russia Eases Travel Norms for India, Visa-Free Travel Expected by 2025

Bitcoin's Rally Continues: Surpasses $106,000 on News of Trump’s Bitcoin Reserve Fund

Bitcoin's Rally Continues: Surpasses $106,000 on News of Trump’s Bitcoin Reserve Fund

Get Ready for PAN 2.0: QR Codes, Paperless Processes & More!

Get Ready for PAN 2.0: QR Codes, Paperless Processes & More!

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.