RBI MPC Meet: Odds of a soft landing high globally; new flashpoints adding uncertainty, says RBI Governor

He also added that the emergence of new flashpoints has added uncertainty to the global macro landscape.

During the RBI monetary policy decision announcement, RBI Governor Shaktikanta Das mentioned that the recent disruption in the Red Sea has impacted the global economy, leading to a mixed picture. As a result, the odds of a soft landing have increased globally. He also added that the emergence of new flashpoints has added uncertainty to the global macro landscape.

The Reserve Bank of India's Monetary Policy Committee has decided to keep the policy repo rate unchanged at 6.5%. The MPC also decided, by a majority of five out of six members, to remain focused on the withdrawal of accommodation to ensure that inflation progressively aligns with the target while supporting growth.

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During its last meeting of FY24, the six-member monetary policy committee voted by a 5:1 majority to keep the repo rate unchanged at 6.50 per cent as retail inflation continues to be above its target of 4 per cent.

(This is a developing story, stay tuned for more updates)