Monetary Policy Statement, 2024-25 Resolution of the Monetary Policy Committee (MPC) April 3 to 5, 2024

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Summary:

The Monetary Policy Committee (MPC) of India decided to keep the policy repo rate unchanged at 6.50% in its meeting held on April 5-7, 2024. The committee aimed to ensure durable price stability while supporting growth. The inflation rate is expected to be around 4.5% in 2024-25. Food prices remain a major concern, and the committee will continue to monitor supply chains and geo-political tensions. The MPC believes that sustained inflation targeting will ensure strong economic growth.