The Reserve Bank of India’s Monetary Policy Committee has started its three day meeting in Mumbai today. The policy review is taking place amid renewed tensions in West Asia, elevated crude oil prices and concerns over food inflation.

During the meeting, the committee will assess the inflation outlook along with prevailing economic conditions before announcing its policy decision at the conclusion of the three day review.

The RBI last raised the repo rate in February 2023, increasing it by 25 basis points to 6.50 per cent. The central bank then maintained the rate throughout 2023 to 24 before beginning a rate cutting cycle in 2025.

The policy repo rate currently stands at 5.25 per cent.