The six-member Monetary Policy Committee, headed by Governor Sanjay Malhotra, unanimously voted to keep the policy repo rate unchanged at 5.25 per cent and retained its “neutral” policy stance. Instead, the RBI has relied on measures announced at its previous policy meeting to attract capital inflows and support the rupee. The RBI projected consumer price inflation at 5 per cent for the current 2026-27 financial year, compared with the 5.1 per cent forecast in June. It lowered its projection for core inflation, which excludes food and fuel, to 4.3 per cent from 4.7 per cent. While high-frequency indicators present a mixed picture, with manufacturing activity slowing and bank credit growth remaining close to 18 per cent, the RBI said domestic demand continued to remain resilient.