Business news: RBI MPC did not make any change in repo rate

The Monetary Policy Committee of the Reserve Bank of India revealed its decision on repo rates on February 8 after a three-day meeting that began on Tuesday in Mumbai. Today at 10 am, RBI Governor Shaktikanta Das announced the decision of the MPC. RBI MPC has kept the repo rate at 6.5 percent for the sixth consecutive time till February 2024. The benchmark interest rate was last raised in February 2023, when it was raised from 6.25 per cent to the current 6.5 per cent. Earlier, it had increased the repo rate by 250 basis points from May 2022 to February 2023.

Indian economy performed well amid global conditions: RBI Governor
RBI Governor Shaktikanta Das said in his address after the meeting of the Monetary Policy Committee (MPC) of RBI that there are mixed signals from the global economic scenario. The Indian economy has performed well amid volatile global conditions. Inflation seems to be decreasing. He said that after detailed discussion in this time’s meeting, the MPC has decided that the repo rate should be kept constant at 6.5%. Five out of six members were in support of it.