RBI maintains status quo, keeps repo rate unchanged at 6.5%

The Reserve Bank of India (RBI) announced its fourth bi-monthly monetary policy today. The three-day meeting, headed by Governor Shaktikanta Das began on October 4. The central bank decided to keep the repo rate unchanged at 6.50 per cent and stance of ‘withdrawal of accommodation. The RBI governor said, “After a detailed assessment of the evolving macroeconomic and financial developments and the outlook, RBI’s Monetary Policy Committee decided unanimously to keep the Policy Repo Rate unchanged at 6.5 per cent.”

Macroeconomic stability and inclusive growth are the fundamental principles underlying our country’s progress. The policy mix that we have pursued during recent years of multiple and unparalleled shocks has fostered macroeconomic and financial stability,” he said.During the last MPC announcement, the Monetary Policy Committee had decided to keep the key policy repo rate unchanged at 6.5 percent, maintaining the status quo for the third time in a row. This is the fourth time that the MPC has decided to keep the benchmark repo rate unchanged