RBI holds rates as MPC sees diverging inflation and growth

The Reserve Bank of India kept monetary policy unchanged today (February 6), as policy-makers faced challenges from diverging growth and inflation outlooks.

The policy rate remains unchanged at 5.15%. The RBI’s monetary policy committee made a series of cuts in 2019 to support growth, but noted today that inflation was likely to be higher than previously anticipated, limiting the scope for further action.

The RBI raised its inflation forecast, and now expects headline inflation to average 6.5%

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