Ongoing Uncertainties, Frontloaded Cuts, Core Inflation Uptick Led To Status Quo On Rate: Malhotra

Reserve Bank Governor Sanjay Malhotra said continuing global uncertainties, frontloading of interest rate cuts, and uptick in core inflation prompted the central bank to opt for the status quo at the bimonthly policy review on Wednesday.

- Press Trust Of India

Speaking to reporters at the central bank headquarters here after announcing the policy review, Malhotra affirmed the Reserve Bank of India's (RBI's) commitment to support growth, and added that the GDP expansion at 6.5 per cent is slower than what is aspired for.

The six-member monetary policy committee (MPC) will continue to be vigilant and continue watching all the incoming data to take an appropriate call on rates, Malhotra said, even as a growing number of analysts opine that the possibilities of a cut in rates are slimming down.