Mumbai: The Reserve Bank of India on Thursday decided to keep policy rate unchanged for the sixth time in a row as it maintains a tight vigil on inflation. The rate increase cycle was paused in April last year after six consecutive rate hikes aggregating to 250 basis points since May 2022.

Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das on Thursday said the Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 6.5 per cent.

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He said MPC will remain watchful of food inflation so that the benefits gained are not frittered away. This is the first bi-monthly policy following presentation of Interim Budget 2024-25 last week.

In December, the Consumer Price-based Inflation (CPI) stood at 5.69 per cent. The government has mandated RBI to ensure CPI inflation at 4 per cent with a margin of 2 per cent on either side.  

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