THE JHARKHAND STORY DESK
New Delhi, August 6: The Reserve Bank of India (RBI) decided to keep the repo rate unchanged following the meeting of the Monetary Policy Committee (MPC) on Wednesday.
After three consecutive cuts in the repo rate, the central bank has opted not to make any changes this time. This decision means there will be no impact on your loan EMIs — they will neither decrease nor increase.
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Governor Retains Repo Rate at 5.50%
RBI Governor Sanjay Malhotra announced at a press conference that the repo rate will remain steady at 5.50%.
So far in FY 2025, the repo rate has been reduced by a total of 1%, with cuts of 0.25% in February, 0.25% in April, and 0.50% in June.
After the significant cut in June, it was widely expected that the RBI would maintain rates in August.
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Inflation Forecast Revised Down to 3%
Although the repo rate remains unchanged, the RBI has revised its inflation forecast for the current fiscal year down to 3%, from the earlier estimate of 3.7% in June.
Retail inflation in June dropped to 2.10%, the lowest in the past 77 months.
