{"id":312928,"date":"2024-10-10T18:59:09","date_gmt":"2024-10-10T13:29:09","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=312928"},"modified":"2024-10-10T18:59:09","modified_gmt":"2024-10-10T13:29:09","slug":"rbi-holds-interest-rate-at-6-5-changes-stance-on-future-cut","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/rbi-holds-interest-rate-at-6-5-changes-stance-on-future-cut\/","title":{"rendered":"RBI holds interest rate at 6.5%, changes stance on future cut"},"content":{"rendered":"<p><strong>News:<\/strong> <em>RBI\u2019s Monetary Policy Committee voted in favor of maintaining benchmark interest rate at 6.5%, but kept the doors open for future rate cuts by shifting its policy stance from \u2018withdrawal of accommodation\u2019 to \u2018neutral\u2019<\/em><\/p>\n<p>1. Monetary Policy Committee (MPC): It is a statutory body under the RBI Act, 1934.<\/p>\n<p>2. It is responsible for fixing benchmark interest rates in India and maintains price stability while keeping in mind the objective of growth.<\/p>\n<p>3. It comprises of 6 members- 3 officials of RBI and 3 external members nominated by the GOI.<\/p>\n<p>4. The Governor of RBI is the ex-officio chairperson of the MPC.<\/p>\n<p>5. Govt. Of India has mandated MPC to maintain 4% annual inflation until 31 March 2026 with an upper tolerance of 6% and a lower tolerance of 2%.<\/p>\n<p>6. Headline Inflation: It is the measure of total inflation in the economy, reflecting price changes across a wide range of sectors such as food, energy, transport, housing.<\/p>\n<p>7. Indices such as the Consumer Price Index (CPI) are used to measure headline inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>News: RBI\u2019s Monetary Policy Committee voted in favor of maintaining benchmark interest rate at 6.5%, but kept the doors open for future rate cuts by shifting its policy stance from \u2018withdrawal of accommodation\u2019 to \u2018neutral\u2019 1. Monetary Policy Committee (MPC): It is a statutory body under the RBI Act, 1934. 2. It is responsible for&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/rbi-holds-interest-rate-at-6-5-changes-stance-on-future-cut\/\">Continue reading <span class=\"screen-reader-text\">RBI holds interest rate at 6.5%, changes stance on future cut<\/span><\/a><\/p>\n","protected":false},"author":10357,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[12039],"tags":[],"class_list":["post-312928","post","type-post","status-publish","format-standard","hentry","category-knolls","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/312928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10357"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=312928"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/312928\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=312928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=312928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=312928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}