RBI's MPC decision to keep pause on rate hike
RBI's MPC decision to keep pause on rate hike

RBI MPC LIVE WATCH: The RBI Monetary Policy Committee (MPC) decided to maintain the policy repo rate at 6.50 percent, along with all other policy rates. The unanimous decision by the monetary policy committee was 6.50 percent, and the committee was ready to take action if necessary, according to Das. The governor of the RBI added that the repo rate hike and accommodation withdrawal had been put on hold solely for this meeting.

The RBI opted to maintain the repo rate unchanged on Thursday due to the sticky nature of inflation. Since May 2022, the central bank has already raised the repo rate by a total of 250 bps.

Shaktikanta Das, governor of the Reserve Bank of India, stated that the MPC has agreed to postpone rate increases only for this meeting. He claimed that it is now vital to assess the effects of earlier rate increases.

Shaktikanta Das, governor of the RBI, declares that the repo rate will remain at 6.5% with a readiness to respond should the circumstance justify it.

Stock market benchmark indices declined in early trade on Thursday as investors remained cautious ahead of the RBI'S monetary policy review and weak trend in global markets. The BSE Sensex fell 165 points to 59,524 after a weak beginning. The broader NSE Nifty declined 45 points to 17,511 during morning session.

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