The Reserve Bank of India on Friday decided to keep the policy rate unchanged at 5.25 per cent amid turmoil in West Asia, which has pushed crude oil prices higher and posed inflation risks.ย RBI Governor Sanjay Malhotra said that the monetary policy committee (MPC) voted unanimously (6โ0) to keep the repo rate unchanged at 5.25 per cent. The outcome is significant, coming amid heightened uncertainty due to global conflicts, rising crude prices, sharp rupee depreciation, and monsoon risks.
The RBI has actively intervened in the foreign exchange market to stabilise the INR, while the government has ramped up efforts to stem foreign outflows, with further measures expected to be announced.
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