Mumbai: The three-day meeting of the Reserve Bank of India’s rate-setting panel started Monday amid expectations of a status quo on the benchmark repo rate, with the Monetary Policy Committee slated to announce its decision August 5. As global uncertainties and inflation risks persist, most experts expect the six-member Monetary Policy Committee (MPC) to adopt a cautious approach despite resilient domestic economic growth. It lowered its GDP forecast for FY27 to 6.6 per cent from the 6.9 per cent estimated in April. Against this background, the MPC is likely to maintain status quo on repo rate as well as the stance,” Sabnavis said. “Maintaining this supportive policy stance will help sustain housing demand, strengthen allied industries, and continue contributing meaningfully to India’s economic growth,” Aggarwal said.