RBI Policy Decision :

RBI left repo rates unchanged at 6.5%.

RBI Governor said that this decision is only for this meeting.

He added that the pause is to assess the impact of earlier hikes.

MPC remains resolute to tackle upside shocks.

Inflation is expected to soften to 5.2% in 2023-24 and GDP growth is expected to be 6.5%.

RBI Governor said that the Global economy is facing turbulence and the latest being the banking crisis in developed economies.
He said that Indian growth with moderating inflation, narrowing of the Current account deficit, high FX reserves and fiscal consolidation with a focus on capital spending augurs well for the economy.
Nifty is up 0.2% at 17590, USDINR is at 81.94.

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