Question

What decision did the Monetary Policy Committee (MPC) make regarding the policy repo rate in October 2024?

• A. Changed to 6.00%
• B. Kept unchanged at 6.50%
• C. Increased to 6.75%
• D. Decreased to 6.25%

Answer 1

Answer:

B. Kept unchanged at 6.50%

The Reserve Bank of India's Monetary Policy Committee (MPC) on Wednesday (October 9, 2024) decided to keep the policy repo rate unchanged at 6.50% for the 10th consecutive time. RBI Repo Rate: The Reserve Bank of India held its benchmark repo rate steady at 6.5% for the eleventh consecutive time, citing persistent inflation concerns despite slowing economic growth. The central bank acknowledged pressure to cut rates but prioritized controlling inflation, currently above its 4% target. The decision comes amid uncertainty over Governor Shaktikanta Das's future, whose term ends in December 2024.