The Reserve Bank of India (RBI) kept its key repo rate steady at 5.50% on Wednesday, in line with expectations, as policymakers waited to see the impact of recent rate cuts and assessed risks from higher-than-expected U.

The Reserve Bank of India’s monetary policy committee on Wednesday unanimously voted to maintain its policy repo rate at 5.50% and its monetary policy stance at neutral.

RBI governor Sanjay Malhotra left the policy repo rate unchanged at 5.5%. The MPC revised FY26 inflation projections downward, but expects a rise in Q4. GDP growth forecast remains at 6.5%, with credit growth supported by lower interest rates.