RBI Monetary Policy: Repo fee unchanged at 4% for tenth consecutive time

RBI Monetary Policy 2022: The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) saved the repo fee unchanged at 4 per cent for the tenth consecutive time whereas sustaining an ‘accommodative stance’ so long as needed, RBI Governor Shaktikanta Das introduced on Thursday.
The central financial institution governor mentioned that the MPC had voted unanimously 5:1 to keep up the accommodative stance and added that the reverse repo fee too was saved unchanged at 3.35 per cent.

The Marginal Standing Facility (MSF) fee and financial institution fee additionally remained unchanged at 4.25 %.
The central financial institution had final revised its coverage repo fee or the short-term lending fee on May 22, 2020, in an off-policy cycle to perk up demand by reducing the rate of interest to a historic low.
During the speech on the RBI’s key selections, Das mentioned that India is charting a unique course of restoration from remainder of the world and the nation is poised to develop at quickest tempo year-on-year amongst main economies as per projections by IMF. This restoration is supported by giant scale vaccination and sustained fiscal and financial assist.
Speaking on the GDP, Das mentioned that the true GDP progress is projected at 7.8 per cent for the subsequent monetary yr 2022-23 (FY23). The RBI governor mentioned that actual GDP progress of 9.2 per cent within the present fiscal (FY22) will take the financial system above the pre-pandemic stage.
Speaking about inflation, the RBI governor mentioned that the CPI inflation projection for the present monetary yr 2021-22 (FY22) is retained at 5.3 per cent whereas the retail inflation for the subsequent fiscal (FY23) is projected at 4.5 per cent.
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