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| 1mRBI holds key rate steady on robust growth, above target inflation
The Reserve Bank of India (RBI) has kept its key interest rate unchanged for the seventh consecutive policy meeting. Despite robust economic growth, inflation remains above the target of 4%. RBI Governor Shaktikanta Das emphasized the need to focus on inflation, with food price volatility remaining a concern. The decision was made by a majority vote of the monetary policy committee, with the policy stance of 'withdrawal of accommodation' retained. The GDP is forecasted to expand by 7% in the fiscal year 2025, with strengthening rural demand, improving employment conditions, and a pickup in manufacturing and services sectors expected to boost consumer demand.
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