RBI maintains status quo on key policy rates
The RBI has maintained status quo on its key policy rates
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Mumbai, Dec 08: The RBI has maintained status quo on its key policy rates. Thus, the repo rate will continue to be at 6.5 per cent.
The RBI's high-powered rate setting panel on December 6 began its 3-day brainstorming on the next set of bi-monthly monetary policy amid expectation of continued pause on the short-term key lending rate as GDP growth is gaining momentum, and inflation manageable. The meeting concluded today, it was indicated by the RBI governor Shaktikanta Das in his address which has just began. The ongoing speech from the RBI governor would be crucial for outlook of Rupee and rate sensitive stocks.
RBI left the benchmark policy rate (repo) unchanged in its past four bi-monthly monetary policies. It had last increased the repo rate in February to 6.5 per cent, thus ending the interest rate hike cycle which began in May 2022 in the aftermath of Russia-Ukraine war and subsequent disruptions in the global supply chain resulting in high inflation in the country.
The external members on the panel are Shashanka Bhide, Ashima Goyal, and Jayanth R Varma. Besides Governor Das, the other RBI officials in MPC are Rajiv Ranjan (Executive Director) and Michael Debabrata Patra (Deputy Governor).
