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RBI Monetary Policy Review - June 2024

Repo Rate unchanged at 6.50 per cent
11 June 2024
    Local Market Commentary
    Download the full reportPDF, 345.91KB

    RBI Monetary Policy Review - June 2024

    The Monetary Policy Committee (MPC) came out with their bi-monthly policy statement on June 07, 2024. Some of the key announcements are as follows:

    • The MPC decided by a majority of 4 out of 6 members to keep the policy Repo Rate unchanged at 6.50 per cent. Two members voted to reduce the policy Repo Rate by 25 bps
    • Consequently, the standing deposit facility (SDF) rate remains unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and Bank Rate at 6.75 per cent
    • The MPC also decided by a majority of 4 out of 6 members to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth

    Two members voted to change the stance to neutral.

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