RBI Holds Key Interest Rate At 6.5%, Adds Pause "For This Meeting Only"

RBI Monetary Policy: The central bank has already raised rates by 250 basis points since May last year.

The Reserve Bank of India (RBI) Governor Shaktikanta Das today decided to pause repo rate hikes, maintaining the key benchmark interest rate at 6.5 percent.

The central bank has already raised rates by 250 basis points since May last year.

In a tightening cycle, a premature pause in monetary policy action would be a costly policy error, Reserve Bank Governor Shaktikanta Das had said earlier.

The governor had also stated that in a world of high uncertainty, giving out explicit forward guidance on the future path of monetary policy would be counterproductive.