Reserve Bank of India keeps key lending rate unchanged at 6.5 per cent as inflation softens

Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday that the Monetary Policy Committee (MPC) has unanimously decided to keep the policy repo rate unchanged at 6.50 per cent.

The MPC also decided — by a majority of five out of six members — to stay focused on "withdrawal of accommodation" to ensure that inflation progressively aligns with the target while supporting growth, he said.

Das said the headline inflation is above the target of 4 per cent and expected to remain so during the rest of the year.

Here are the highlights of his statement:

• Reserve Bank of India keeps key lending rate unchanged at 6.5 per cent as inflation softens: reports NDTV
• Inflation to remain above 5 per cent throughout 2023-2024, says RBI
• GDP growth forecast at 6.5 per cent for 2023-24: RBI
• Indian rupee has remained stable since January this year: RBI Guv, PTI reports
• RBI lowers retail inflation projection to 5.1 per cent during FY'24 from earlier estimate of 5.2 per cent
• RBI will remain nimble in its liquidity management while ensuring adequate resources for productive requirements of economy: RBI Guv
• Current account deficit expected to moderate further in Q4, remains eminently manageable: RBI Guv
• Domestic demand condition remains supportive of growth; rural demand on revival path, says RBI Guv, reports PTI
• MPC decides to remain focussed on withdrawal of accommodation of policy stance: RBI Governor
• Close and continued vigil on evolving inflation is absolutely necessary: RBI Governor
• Pace of global economic activity to decelerate due to geopolitical situation, says RBI Guv. PTI

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