Minutes of the Monetary Policy Committee Meeting, October 4 to 6, 2023

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Date: 20th Oct, 2023 Source: Reserve Bank of India Country: India Original Source

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The Reserve Bank of India has retained the policy repo rate at 6.50% due to transitory price pressures and uneven rainfall distribution affecting food prices. The CPI inflation rate is expected to decline to 5.4% for FY 2023-24. The growth momentum is uneven, with services and manufacturing sectors being significant contributors. The RBI is cautiously optimistic about the overall growth trend, citing improved demand conditions and investment spending.

[Under Section 45ZL of the Reserve Bank of India Act, 1934] The forty fifth meeting of the Monetary Policy Committee (MPC), constituted under Section 45ZB of the Reserve Bank of India Act, 1934, was held during October 4 to 6, 2023. 2. The meeting was attended by all the members – Dr. Shashanka Bhide, Honorary

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Minutes of the Monetary Policy Committee Meeting, October 4 to 6, 2023

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Minutes of the Monetary Policy Committee Meeting, October 4 to 6, 2023

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