The Reserve Bank of India (RBI) on Wednesday (Feb 7) held the policy repo rate at 6% as the central bank’s Monetary Policy Committee (MPC) raised the estimate for fourth-quarter inflation and flagged concerns about the future outlook for price gains.
Five of the six members of the RBI’s MPC voted in favour of keeping the benchmark interest rate unchanged for the third consecutive meeting, while one member, M.D. Patra, recommended a 25 basis points (bps) rate increase. While holding interest rates — as widely anticipated — the central bank also retained its ‘neutral’ policy stance.
- Source: The Hindu