The Reserve Bank of India (RBI) on October 09, 2024, issued the Monetary Policy Statement, 2024-25 Resolution of the Monetary Policy Committee (MPC) October 7 to 9, 2024.
After assessing the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (October 9, 2024) decided to:
• Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent.
Consequently, the standing deposit facility (SDF) rate remains unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent.
• The MPC also decided to change the monetary policy stance to ‘neutral’ and to remain unambiguously focused on a durable alignment of inflation with the target, while supporting growth.
These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.
[Press Release: 2024-2025/1252]
