RBI MPC kept the repo rate unchanged at 6.5 percent but changed the stance to neutral from withdrawal of accommodation. This comes in the backdrop of the US federal Reserve cutting the rates by a jumbo 50 basis points.
As a result, the standing deposit facility (SDF) rate remains unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent.
A poll by Moneycontrol of 12 economists, bankers, and fund managers showed that the RBI’s Monetary Policy Committee (MPC) will keep the key interest rates unchanged.
The RBI MPC kept the GDP growth forecast unchanged at 7.2 percent for the current fiscal. with Q2 at 7.0 per cent; Q3 at 7.4 per cent and Q4 at 7.4 per cent. Real GDP growth for Q1:2025-26 is projected at 7.3 per cent.
The inflation projection was also kept unchanged at 4.5 percent. The Q2 inflation projection is 4.1 percent, Q3 inflation projection is 4.8 percent, Q4 is at 4.2 percent, and Q1 for the next fiscal is seen at 4.3%.
"Inflation horse has been brought to the stable within the tolerance band. Have to be careful about opening the gate," said the RBI Governor Das.
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