RBI holds policy rate steady despite growing imbalances


The Reserve Bank of India surprised observers today (October 5) by keeping its policy rate on hold in the face of growing imbalances and volatility in markets.

The monetary policy committee voted 4–2 in favour of keeping the main rate on hold at 6.5%, though it shifted its “stance” in favour of “calibrated tightening”. Governor Urjit Patel said this meant rate cuts in the current cycle were “off the table”, though the central bank will not necessarily hike at every meeting either.


To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: