Reserve Bank did not amend any interest rates, repo rate will remain at 4%

The results of the monetary policy review meeting of (RBI) have been announced. Reserve Bank of India Governor Shaktikanta Das said that there is no change in the repo rate. Repo rate will be kept at 4% with no change. Also, the reverse repo rate will also remain 3.35% without any change.

The central bank has not changed interest rates for the 10th time in a row. Earlier, the Reserve Bank last changed the interest rates on 22 May 2020.

RBI Governor Shaktikanta Das said that the real GDP growth for the financial year 2022-23 is estimated at 7.8%. However, in the second quarter of FY23, the GDP growth estimate is expected to come down from 7.8 per cent to 7 per cent. Shaktikanta Das said that in the third quarter of FY23, the inflation rate could be 4 percent. At the same time, the inflation rate in FY 23 is estimated to be 4.5 percent.

Also, the CPI inflation estimate remains at 5.3% for FY 2021-22 and 4.5% for FY 2022-23.