RBI Monetary Policy Committee meeting: policy rate unchanged at 6.5%

The Reserve Bank of India’s Monetary Policy Committee (MPC) on Wednesday (October 9, 2024) decided to keep the policy repo rate unchanged at 6.50% for the 10th consecutive time

Governor Shaktikanta Das announced the central bank’s decision on policy rates in the RBI’s concluding day Monetary Policy Committee (MPC) meeting on Wednesday. “The Flexible monitory policy framework has completed 8 years. This is major structural reform, “ Mr. Das said in a statement.

The RBI changes stance of monetary policy to ‘neutral’ from withdrawal of accomodation, Mr. Das said. In the backdrop of a good monsoon and adequate buffer stock, the food inflation will fall later in the year, Mr. Das said.