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. At the same time, the reverse repo rate has been kept unchanged at 3.35 percent. Significantly, this is the 11th time in a row that the RBI has not made any change in the repo rate.

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 regarding 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 rate has been reduced to 7.2 per cent. Earlier this estimate was 7.8 per cent.

Inflation forecast 5.7%

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. At the same time, crude oil is estimated to be 100 100 per barrel and average inflation at 5.7 percent in this financial year.