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The Monetary Policy Committee (MPC) convened on December 4th, 5th, and 6th, 2024, to review macroeconomic and financial conditions. Following a thorough evaluation, the MPC, by a 4-2 majority, decided to keep the policy repo rate steady at 6.50%. Accordingly, the standing deposit facility (SDF) rate remains at 6.25%, while the marginal standing facility (MSF) rate and Bank Rate are maintained at 6.75%. The committee unanimously agreed to continue with a neutral stance, focusing on ensuring inflation aligns with the target while supporting economic growth. Download Governor’s Statement PDF from link below.
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