RBI Maintains Status Quo on Interest Rates: Insights from Monetary Policy Committee Meeting
Shri Shaktikanta Das, Governor of RBI
In its recent meeting, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) opted to maintain the status quo on interest rates, with the repo rate holding steady at 6.5%. Additionally, the committee affirmed its commitment to the gradual withdrawal of accommodative monetary policy measures, signaling a cautious approach amidst evolving economic conditions.
Inflation targeting, adopted by the RBI in 2016, aims to manage inflation within a specified target range. The RBI's primary objective is to achieve a 4% inflation target with a comfort zone of +/- 2%. While this framework provides a structured approach to monetary policy, it faces limitations such as addressing supply-side shocks, exchange rate volatility, socio-economic impacts, and data availability challenges.
The MPC's decision reflects a balanced approach aimed at navigating evolving economic dynamics while maintaining price stability and supporting sustainable growth in India's economy.
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