: RBI announces no changes in repo rate; brings down growth projection to 7.2% #FinanceIndia #StockMarketNEWS RBI announces no changes in repo rate; brings down growth projection to 7.2% New Delhi,

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RBI announces no changes in repo rate; brings down growth projection to 7.2% #FinanceIndia #StockMarketNEWS
RBI announces no changes in repo rate; brings down growth projection to 7.2% New Delhi, April 8 (KNN) The Reserve Bank of India (RBI) has announced no changes in the 4 per cent repo rate but has brought down the growth projection rate to 7.2 per from 7.8 per cent during its Monetary Policy Committee (MPC) meet on Friday.

Shaktikanta Das, Governor, RBI said that the MPC has unanimously voted to maintain the accommodative stance to expand money supply in order to boost the economy and has kept the reverse repo rate unchanged at 3.35 per cent.

The central bank has forecasted the inflation rate at 5.7 per cent with Das stating that the RBI has prioritized inflation over economic growth.

RBI has clearly stated that the inflation trajectory will depend critically upon the evolving geopolitical situation and its impact on global commodity prices and logistics.

The governor also highlighted the ongoing Russia-Ukraine war as the key reason in altering the growth and inflation rate.

The actions of RBI will depend on how things end up in the next few months.

Currently the situation is very volatile with crude oil prices fluctuating on a daily basis hence the central bank will watchful of the ongoing situation, said Das. (KNN Bureau)

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