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RBI Monetary Policy Review - December 2023

Repo Rate unchanged at 6.50 per cent.
08 December 2023
    Local Market Commentary
    Download the full reportPDF, 329.94KB

    Summary:

    The Monetary Policy Committee (MPC) came out with their bi-monthly policy statement on 08 December 2023. Some of the key announcements are as follows:

    • The MPC unanimously decided to keep the policy Repo Rate unchanged at 6.50%
    • Consequently, the standing deposit facility (SDF) rate remains unchanged at 6.25% and the marginal standing facility (MSF) rate and Bank Rate at 6.75%
    • The MPC also decided by a majority of 5 out of 6 members to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth.
      Prof. Jayanth Varma voted against this part of the resolution

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