The Reserve Bank of India (RBI) has kept the repo rate steady at 6.5% for the ninth time, as announced by Governor Shaktikanta Das on August 8, 2024.
The Monetary Policy Committee's 4:2 majority decision also maintains the standing deposit facility (SDF) rate at 6.25% and the marginal standing facility (MSF) rate and bank rate at 6.75%. The RBI's Consumer Price Index (CPI) inflation forecast for FY 2024-25 remains at 4.5%. Although food prices surged in June, inflation is expected to decrease in the third quarter.