RBI Monetary Policy: Central Bank Leaves Key Rates Unchanged Amid High Inflation

The Reserve Bank of India (RBI) left the repo rate unchanged at the existing 4 per cent on Thursday, following a three-day meeting of its six-member Monetary Policy Committee (MPC). The Monetary Policy Committee decided unanimously to leave the repo rate at the existing level, and maintain its "accommodative" stance on policy, Governor Shaktikanta Das said in a virtual address to media. An accommoative stance rules out any increases in the near term. The RBI Governor said the Monetary Policy Committee expects inflation to remain at elevated levels in the July-September period, and ease in second half of the current financial year on account of "favourable base effect".