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Inflation spike led to policy rate status quo: RBI MPC minutes

According to the minutes of the Monetary Policy Committee (MPC) released on Thursday,all six members of the MPC had voted in favour of the pause in the December policy review meeting, leaving the repo rate unchanged at 5.15%.

On food Inflation and particularly the surge in onion prices, Das said the surge in food inflation in last three months, driven up by a spike in onion and other vegetable prices, could be transitory.

Das said while improved monetary transmission and a quick resolution of global trade tensions could push the growth above the projected trajectory, a delay in revival of domestic demand, a further slowdown in global economic activity and geopolitical tensions could pull it down below the projected path.
 

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