RBI retains repo rate at 6.5 pc
Mumbai (PTI): The Reserve Bank of India on Friday decided to keep the policy rate unchanged for fourth time in a row as it maintains a tight vigil on inflation.
The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022.
Announcing the bi-monthly monetary policy on Friday, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) unanimously decided to keep the repo rate unchanged at 6.5 per cent.
He said the MPC will remain watchful of the inflation and remains resolute in its commitment to align inflation to the targeted level.
According to him, the growth projection has been retained at 6.5 per cent for the current financial year with risks evenly balanced.
The MPC meeting took place against the backdrop of Consumer Price-based Inflation (CPI) touching 6.83 per cent in August. The September print of inflation is expected next week.
The government has mandated the RBI to keep CPI inflation at 4 per cent with a margin of 2 per cent on either side.
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Iran declares 40 days of public mourning after Khamenei’s killing: Reports
Tehran: Iran has reportedly declared 40 days of public mourning following the killing of the country’s Supreme Leader Ayatollah Ali Khamenei, Al Jazeera reported citing Iranian state media.
According to the report, Fars News Agency said the Iranian government has announced 40 days of nationwide mourning in the wake of Khamenei’s killing. The agency also reported that seven days of public holidays have been declared.
Further updates are awaited.
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