RBI Monetary Policy Meeting Live Updates | RBI MPC Meeting June 2024 Outcomes: The Reserve Bank of India’s Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.5% in its first meeting since Lok Sabha Elections 2024. RBI decided to hold the key policy rate for the eighth consecutive time in its June 2024 meeting. The MPC had last changed the benchmark interest rate in February 2023. Real GDP growth is expected at 7.2% for FY25.
The RBI decision to retain the repo rate at 6.50% signifies a continuity of cautious monetary policy. This prioritizes the objective of achieving an equilibrium between curbing inflationary pressures and nurturing a robust economic environment. Maintaining the status quo of the repo rate is likely to ensure sustained momentum within the real estate sector, thereby benefiting borrowers. Furthermore, the policy decision is expected to contribute to a broader affirmation of consumer confidence.