RBI may hold rates for 10th time

The reconstituted six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is expected to maintain the "status quo" for the 10th consecutive policy review, said all the 10 respondents polled by Business Standard ahead of the panel's meeting during October 7-9. The RBI will announce the review of the policy on October 9.

- ANJAIJ KUMARI

The decision to keep rates unchanged would be based on the ongoing risk of food inflation, as daily retail prices, particularly those of vegetables, continue to trend upward, the respondents in the poll said.

After increasing the repo rate by 250 basis points (bps) to 6.5 per cent between May 2022 and February 2023, the rate-setting panel kept the repo rate unchanged in all the previous nine policy review meetings.