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Informative

Monetary Policy Statement, 2024-25 Resolution of the Monetary Policy Committee (MPC) June 5 to 7, 2024

Update / Judgement Date

06 Jun 2024

Source

RBI

Author

Team — WCP Legal Desk

Reading Time

1 min read

RBI

The Monetary Policy Committee (MPC) of the Reserve Bank of India, after assessing the current macroeconomic situation, decided to maintain the policy repo rate unchanged at 6.50 percent during its meeting from June 5 to 7, 2024. \r


Consequently, the standing deposit facility (SDF) rate, marginal standing facility (MSF) rate, and Bank Rate remain unchanged. The MPC aims to align inflation progressively to the 4 percent target while supporting growth. Real GDP growth for 2024-25 is projected at 7.2 percent, with risks balanced. \r


CPI inflation is expected at 4.5 percent for the fiscal year, with evenly balanced risks. The MPC remains committed to aligning inflation with the target and to withdrawing accommodation gradually. \r


The next MPC meeting is scheduled for August 6 to 8, 2024.