Quick Summary
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (August 10, 2023) decided to: Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent. The standing deposit facility (SDF) rate remains unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent. The MPC also decided to remain focused on withdrawal of accommo
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FAQ :
The Monetary Policy Committee decided to keep the policy repo rate unchanged at 6.50 per cent.
The standing deposit facility (SDF) rate remains at 6.25 per cent, and the marginal standing facility (MSF) rate and Bank Rate are unchanged at 6.75 per cent.
The objective is to achieve the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while also supporting economic growth.
The RBI will remain focused on the withdrawal of accommodation to ensure inflation progressively aligns with the target, while supporting growth. They will maintain a close vigil on the inflation scenario.
CPI inflation is projected at 5.4 per cent for 2023-24, and real GDP growth is projected at 6.5 per cent for the same period.
The next meeting of the MPC is scheduled for October 4-6, 2023.
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