RBI keeps repo rate unchanged at 6.5 pc
Headline inflation is above the target of 4 per cent and expected to remain so during rest of the year says, RBI Governor Shaktikanta Das.
Published: 08th June 2023 10:32 AM | Last Updated: 08th June 2023 10:32 AM | A+A A-
RBI Governor Shaktikanta Das. (Photo | PTI)
- RBI Monetary Policy Committee decides to keep repo rate unchanged at 6.5 pc: Governor Shaktikanta Das.
- Indian economy and financial sector stand strong and resilient amidst unprecedented global headwinds says, RBI Governor Shaktikanta Das.
- MPC decides to remain focussed on withdrawal of accommodation of policy stance
- Close and continued vigil on evolving inflation is absolutely necessary
- Pace of global economic activity to decelerate due to geopolitical situation.
- MPC will continue to take policy actions promptly and appropriately to keep inflation expectations firmly anchored.
- Headline inflation is above the target of 4 per cent and expected to remain so during rest of the year.
- Domestic demand condition remains supportive of growth; rural demand on revival path.
- Forex reserves are at comfortable levels.
- GDP growth in Q1 this fiscal year expected at 8 pc.
- RBI retains growth projection at 6.5 pc for FY'24, expects 8 pc growth in Q1, 6.5 pc in Q2, 6 pc in Q3 and 5.7 pc in Q4.
- RBI lowers retial inflation projection to 5.1 pc during FY'24 from earlier estimate of 5.2 pc.
