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The six-member Monetary Policy Committee (MPC) unanimously decided to maintain the policy repo rate at 6.50 per cent on Thursday in light of the beginning of 2023 retail inflation falling to a 19-month low and FY23 GDP growth above initial projections.
Additionally, the MPC made the decision to “remain focused on the withdrawal of accommodation” by a margin of five out of six members. Here is a link to the post-monetary policy press conference.
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