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RBI keeps its key policy rate unchanged at 6.5 percent…


Pune: The Reserve Bank of India on Thursday kept its key policy rate unchanged at 6.5 percent in its Monetary Policy Committee (MPC) meeting on February 8. This is the the sixth consecutive time that the central bank has maintained a status quo.“Uncertainty in food prices continue to impinge on headline inflation. Momentum in domestic activities continues to be strong,” the governor said in the briefing.

Citing reasons behind not changing the repo rate, Mr Das said uncertainty in food prices continue to impinge on headline inflation…Monetory policy will continue to be actively dis-inflationary.”

Mr Das sounded positive on several front like global growth and global trade which, he said, was showing signs of recovery. ”Inflation has also softened to a great extend and in 2024 it will not see major rise,” he said.

Citizens said they are disappointing with the RBI not bringing down the repo rate. ”EMIs are rising like never before. The RBI needs to act decisively to bring relief to citizens. For sixth consecutive time, it has made any changes in the repo rate which is big blow to those who have home loans and car loans,” said Pramod Shinde, a tutition teacher from Pimpri-Chinchwad.

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