In October, the MPC moved to a neutral stance from its earlier "withdrawal of accommodation," while keeping the policy rate steady at 6.5 percent for a 10th straight meeting. The committee also maintained its retail inflation forecast for FY25 at 4.5 percent.
RBI Governor Shaktikanta Das last week had warned that October's inflation print would likely surpass September's, suggesting that a rate cut remains off the table despite the MPC's shift in policy stance.
This story is from the November 13, 2024 edition of Business Standard.
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This story is from the November 13, 2024 edition of Business Standard.
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