RBI Repo Rate: The Reserve Bank of India has decided to keep the repo rate stable at 6.5 per cent for the 9th consecutive time. There has been no change in the repo rate for the last 18 months. Today was the last day of the RBI Monetary Policy Committee meeting, which began on 6 August under the chairmanship of Reserve Bank of India Governor Shaktikanta Das. After the meeting ended, the governor announced the committee's decisions. 4 out of 6 members of the RBI Monetary Policy Committee decided in favour of not changing the rates.

Decision to keep reverse repo rate and bank rate stable

RBI Governor Shaktikanta Das said that price stability is necessary for sustainable growth. Apart from the repo rate, it has been announced that MSF, reverse repo rate, and bank rate will be kept stable. Let us tell you that the current MSF is 6.75%, the reverse repo rate is 3.35 per cent and the bank rate is 6.75 per cent. Shaktikanta Das said that the Reserve Bank of India is trying to achieve the inflation rate target of 4 per cent. He said that the current global growth outlook looks positive but the medium-term global growth outlook looks challenging.

Inflation rate at a high level

Let us tell you that experts across the country were already predicting that RBI will not change the repo rate this time too. Experts believe that the country's current retail inflation rate is at a high level. In June, the retail inflation rate reached a four-month high of 5.08 per cent. Until the retail inflation rate comes down, there is very little possibility of a cut in the repo rate.

The repo rate was last changed in February 2023

The Reserve Bank of India (RBI) last changed the repo rate in the month of February 2023 and increased it. The repo rate has remained at 6.5 percent since February 2023.