Quick Summary
Monetary Policy Statement, 2022-23 Resolution of the Monetary Policy Committee (MPC) August 3-5, 2022 On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (August 5, 2022) decided to: Increase the policy r
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FAQ :
The new policy repo rate has been increased by 50 basis points to 5.40 per cent.
The increase in the policy repo rate took effect immediately on August 5, 2022.
The objective is to manage the current macroeconomic situation, ensure inflation stays within the target, and support economic growth.
The standing deposit facility (SDF) rate is now 5.15 per cent, and the marginal standing facility (MSF) rate and Bank Rate are 5.65 per cent.
The Monetary Policy Committee has decided to remain focused on withdrawing accommodation to ensure inflation stays within the target while supporting growth.
All members of the MPC unanimously voted to increase the policy repo rate by 50 basis points.
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