Press Release no. 2023-2024/21 & 22; dated: 06.04.2023
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today has decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at its current level of 6.50%. Further, the RBI has kept the standing deposit facility rate unchanged at 6.25% and the marginal standing facility rate and the Bank Rate at 6.75%.
The MPC has decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns 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% within a band of +/- 2%, while supporting growth. Also, RBI Governor Shaktikanta Das stated that the decision was made unanimously.
