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RBI has kept the repo rate unchanged at 6.5%. The RBI also retained the GDP growth forecast of 7% for FY25 with June quarter growth at 7%, and September quarter at 6.9%. In the third and fourth quarter the growth is expected to be 7% each.
RBI projected CPI inflation for FY25 at 4.5%.
Notably, RBI has kept the repo rates unchanged for the seventh time in a row.
In the press meet RBI Governor Shaktikanta Das said, “I want to make 5 observations. First, Inflation is moderating and GDP growth is robust. Second, monetary policy committee remains focused on aligning inflation with the target on a durable basis. We derive satisfaction from the progress made on disinflation but the task is not yet finished. Thirdly, financial sector continues to be stable, fourth, external sector also continues to be resilient. Lastly, as we move towards RBI at 100, RBI will focus on preserving financial stability and promoting a financial sector and payment structure that is robust, resilient and future ready.”
