RBI Changes Stance To 'Neutral', Says Food Inflation Seen Dipping By FY25 End

The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% for straight tenth monetary policy. Governor Shaktikanta Das said while announcing the monetary policy statement on Wednesday that the decision was taken with a 5:1 majority. The Monetary Policy Committee of the RBI decided, however, to change the stance of the monetary policy to 'neutral' from 'withdrawal of accommodation'. "After evaluating the macroeconomic conditions and future outlook, the MPC decided, with 5 out of 6 members in agreement, to maintain the policy rate at 6.5 per cent," the RBI chief said. The central bank said retail inflation in September could see a "big rise" on the back of base effect and that food prices are only expected to moderate by the end of this financial year.