RBI Repo Rate Cut: Monetary Policy Finally Shifts

Sanjay Malhotra’s maiden monetary policy speech delivered a much anticipated 25 basis point rate cut. The first rate reduction since May 2020, when the Covid-19 pandemic was still wreaking havoc. That’s nearly five years in the making. Repo rate is now down to 6.25%, the lowest it has been since February 2023, when RBI had announced a pause in rate action. By that time, the central bank had consistently hiked interest rates by 2...