MPC meet: RBI votes for status quo

THE monetary policy committee (MPC) led by Reserve Bank governor Sanjay Malhotra has chosen not to offer any more surprises after 100 bps reduction in the key lending gauge repo, including an unconventional 50 bps delivered in June.

- BENN KOCHUVEEDAN @ Mumbai

The six-member rate setting panel unanimously voted to stay put on the rates at 5.50% and also on the neutral policy stance. Despite a significant reduction in inflation forecast to 3.1% for the current fiscal, down from 3.8% earlier, the MPC at the 56th meeting that ended here on Wednesday chose to retain the growth outlook at 6.5% citing "the very, very uncertain times around the tariff war outcomes."