RBI MPC Highlights: Repo rate unchanged at 6.5%, stance changed to ‘Neutral’

RBI MPC Highlights: Reserve Bank of India (RBI) Governor Shaktikanta Das delivers the Monetary Policy Statement, in Mumbai.

RBI MPC Highlights: The Reserve Bank of India (RBI) kept its key interest rate unchanged on Wednesday, as widely expected, but tweaked its policy stance to "neutral", opening the door for rate cuts amid early signs of a growth slowdown in the economy. Shaktikanta Das' announcement comes after the three-day meeting of the six-member RBI Monetary Policy Committee (MPC) which will end today. Moreover, this is the first RBI MPC meeting after three new external members appointed by the government on the panel.

Read more: Is RBI moving closer to a rate cut or will that happen in December?

It was widely expected by experts that RBI’s rate-setting panel will keep the benchmark repo rate unchanged at 6.5% for the tenth straight meeting to balance inflation and economic growth.