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RBI MPC to announce repo rate decision today
The Business Guardian
|August 10, 2023
The Reserve Bank of India (RBI) is in the midst of a three-day monetary policy committee (MPC) meeting to deliberate and decide on the key interest rates for the country. The meeting, which commenced on Tuesday, will culminate with RBI Governor Shaktikanta Das making the policy announcement on Thursday.
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One of the focal points of anticipation is the repo rate, currently set at 6.5%. This rate has seen an increase of 250 basis points since May 2022. The repo rate plays a pivotal role as it influences the interest rates that Indian banks set for deposits and loans. As the final day of the MPC meeting approaches, market participants are keenly observing any potential shifts in the repo rate.
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