Quick Summary
Monetary Policy Statement, 2022-23 Resolution of the Monetary Policy Committee (MPC) September 28-30, 2022 On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (September 30, 2022) decided to: Increase th
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FAQ :
The policy repo rate has been increased by 50 basis points to 5.90%.
The increase is in response to the current and evolving macroeconomic situation, with the aim of keeping inflation within the target range while supporting growth.
The medium-term target for consumer price index (CPI) inflation is 4%, within a band of +/- 2%.
The standing deposit facility (SDF) rate has been adjusted to 5.65%, and the marginal standing facility (MSF) rate and the Bank Rate are now at 6.15%.
The RBI will remain focused on withdrawing accommodation to ensure inflation stays within the target, while also supporting economic growth.
The next meeting of the Monetary Policy Committee is scheduled for December 5-7, 2022.
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