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HDFC Securities Retail Research
The RBI Monetary Policy Committee voted 4-2 to keep policy repo rate unchanged at 6.5% on Aug 8, maintaining status quo for the ninth time, in line with most street expectations.
The current pause is the second-longest in the past 25 years. Although headline inflation has moderated from its peak, food price momentum remains elevated and likely to result in a shallower softening of CPI headline inflation.
The MPC also decided by a majority of 4 out of 6 members to maintain its 'Withdrawal of Accommodation' stance. This has come when rate cut expectations have risen globally.
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Also Read: RBI Monetary Policy Review - No Surprises; FY25 GDP, Inflation Forecast Unchanged: IDBI Capital
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