RBI keeps key lending rate unchanged at 6.5% for 6th straight time

mangaloretoday.com/ndtv

Mumbai, Feb 08, 2024: The Reserve Bank of India (RBI) kept its key lending rate unchanged on Thursday for a sixth straight meeting, in line with expectations, as inflation stayed above the 4% medium-term target while economic growth continued to be resilient.

 

The six-member monetary policy committee, consisting of three RBI and three external members, left the key repo rate unchanged at 6.50% after having raised it by 250 basis points between May 2022 and February 2023.

Monetary policy must continue to be actively disinflationary, RBI Governor Shaktikanta Das said in his statement.

Five out of six members voted in favour of the rate decision.