The Monetary Policy Committee, which consists of three members, remained… Reserve Bank of India And three external members, the repurchase rate remained unchanged at 6.5 percent for the tenth time in a row.
However, the committee changed its policy position to “neutral” from “withdrawal of facilitation.”
Economists polled by Reuters had expected it to be stabilized InterestThe last time the Monetary Policy Committee changed interest rates was in February 2023, when the interest rate was raised to 6.50 percent.
And he stayed Inflation The annual rate is below the central bank’s target of 4 percent for the second month in a row, reaching 3.65 percent in August, but higher than the revised 3.60 percent in July and economists’ expectations of 3.5 percent.
The central bank expects inflation to average 4.5 percent in fiscal year 2024-2025, unchanged from forecasts presented at the August meeting.
While the recent escalation of tensions in the Middle East has cast a shadow over the outlook for inflation, concerns about economic growth are also emerging.
The Central Bank also expects GDP to grow by 7.2 percent in the current fiscal year.
