The Monetary Policy Committee (MPC) of the Reserve Bank of India announced on Thursday that the repo rate will remain unchanged at 6.5 percent.
The central bank has kept the basic rate unchanged for the second time. Governor Shaktikanta Das stated that the MPC voted unanimously to maintain the repo rate.
The RBI paused its rate hike cycle at the April MPC meeting and maintained the 6.5 percent repo rate. Prior to that, the central bank had raised the repo rate by 250 basis points since May 2022 in an effort to keep inflation under control.