Quick Summary
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (February 8, 2024) decided to: Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent. Consequently, 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 withdrawa
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FAQ :
The Monetary Policy Committee decided to keep the policy repo rate unchanged at 6.50%.
The decision was based on an assessment of the current and evolving macroeconomic situation, with a focus on ensuring inflation progressively aligns with the target while supporting growth.
Real gross domestic product (GDP) is expected to grow by 7.3% year-on-year in 2023-24.
Real GDP growth for 2024-25 is projected at 7.0%.
CPI inflation is projected at 5.4% for 2023-24 and 4.5% for 2024-25, assuming a normal monsoon.
The minutes of the MPC's meeting will be published on February 22, 2024.
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