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
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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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