RBI keeps repo rate unchanged at 6.5%

Thu, 08 August 2024

10:17

RBI Governor Shaktikanta Das says "The Monetary Policy Committee decided by a 4:2 majority to keep the policy repo rate unchanged at 6.5%. Consequently, the standing deposit facility (SDF) rate remains at 6.25%, and the marginal standing facility (MSF) rate and the bank rate at 6.75%."

According to the rating agency, the recent hikes in telecom tariffs by major mobile service providers, ranging from 10-25 per cent, will put upside pressures on core inflation. Telecommunication services account for about 2.1 per cent of the overall CPI basket and 4.4 per cent of core inflation. In addition, the report added that the recent sales tax on fuel prices in a few states will also marginally impact inflation prints.

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