Reserve Bank of India holds interest rates
Decision comes despite weakening inflation
The Reserve Bank of India (RBI) has held its key interest rates even though headline inflation has fallen below its target.
The RBI’s monetary policy committee held the policy repo rate at 6.5% today (October 9) in a 5–1 decision. The one dissenting member of the committee voted for a 25 basis point cut.
The committee also held the standing deposit facility at 6.25% and the marginal standing facility at 6.75%.
The decisions came after headline inflation was recorded at 3.7% in August – a slight
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