RBI holds key repo rate at 6.5 per cent

The Reserve Bank of India (RBI) has held its key repo rate steady after six consecutive hikes, citing it was closely monitoring the impact of recent global financial turbulence. It may contemplate additional rate increases if necessary. The monetary policy committee (MPC) has maintained the main lending rate at 6.50 per cent. The benchmark 10-year 7.26 per cent 2032 bond yield fell to 7.146 per cent, the lowest level since mid-Sep­tember, immediately following the announcement of the policy, from 7.2857 per cent prior to the decision.