8/8/2024, 1:58:03 pm

Now, first rate cut seems to be more likely in December or February

The RBI maintains a neutral stance, keeping policy rates unchanged, citing concerns over food inflation, which could impact inflation expectations and wage pressure. The central bank expects favorable base effects to wear off and inflation to remain around 4.5% in FY25, with growth forecasts unchanged at 7.2%. The RBI may delay rate cuts to December or February.