The Reserve Bank of India (RBI) on December 6 held the repo rate steady at 6.5 percent for the 11th time but raised hopes of a rate cut in February.
The RBI's monetary policy committee (MPC) also raised its inflation forecast for FY25 to 4.8 percent from 4.5 percent and lowered the economic growth numbers. It now expects GDP growth for the year ending March 2025 to 6.6 percent from its earlier forecast of 7.2 percent following the weaker-than-expected print for the second quarter.
