India Keeps Key Interest Rates Unchanged
India’s central bank decided to retain its key interest rates on Friday, as inflation is on a declining trajectory.
The Monetary Policy Committee of the Reserve Bank of India led by Governor Shaktikanta Das, voted 5-1 to leave the repo rate unchanged at 6.50 percent.
The RBI has raised the key rate by 250 basis points since May 2022 to contain inflationary pressures.
The committee also decided by a majority of 5 out of 6 members to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth.
The central bank forecast real GDP growth for 2024-25 at 7.0 percent, unchanged from the prior projection.
Likewise, the bank retained its inflation outlook for 2024-25 at 4.5 percent assuming a normal monsoon.
For comments and feedback contact: editorial@rttnews.com
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.