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Repo rate unchanged for 11th time in a row, RBI lowers its GDP growth forecast

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The Reserve Bank of India (RBI) has not made any change in the repo rate in the first meeting of the new financial year 2022-23. That is, the repo rate will still remain at four percent. Along with this, the reverse repo rate has been kept unchanged at 3.35 percent. This is the 11th time in a row that the RBI has not changed the repo rate.

1649401564 895 Repo rate unchanged for 11th time in a row RBI

RBI governor declared results
RBI Governor Shaktikanta Das announced the results of the three-day RBI monetary policy meeting. He said that no change has been made in the repo rate this time with the consent of all the members. He also said that the global market is under pressure from the supply chain. The central bank has slashed the GDP growth forecast for the fiscal year 2022-23. Governor Shaktikanta Das said that the growth estimate is being reduced to 7.2 percent. Earlier this estimate was 7.8 per cent.

Inflation expected to be 5.7 percent
According to the RBI, the growth rate is expected to be 16.2 percent in the first quarter, 6.2 percent in the second quarter, 4.1 percent in the third quarter and four percent in the fourth quarter. While crude oil is expected to remain at ₹100 per barrel, the average inflation for the current fiscal is estimated to be 5.7 percent.

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Repo rate unchanged for 11th time in a row RBI

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