In yet another of its similar move, the Reserve Bank of India (RBI) has kept the Benchmark interest rate unchanged at 6.50%.

RBI Governor Shaktikanta Das, while making the announcement, at a press conference today said rupee remained range-bound in the month of August. "In Quarter 3, substantial advantage of bass effecr may pull down the inflation," he aded

The apex bank has kept on hold the benchmark interest rate for the past 18 months. The last revision was made in February 2023. Thus the RBI has kept rates unchanged for the ninth consecutive time.

The MPC has kept the repo rate unchanged in the previous eight policy reviews. 

The detailed assessment of the macroeconomic conditions helped the RBI to decide on the current rate stance.

At the presser, RBI Governor also said the MPC remains focussed on withdrawal of accommodation to ensure inflation ultimately aligns with the RBI target.

The next RBI MPC meeting will be held on October 7-9, the Governor said.