The Reserve Bank of India’s August minutes reveal a committee united in action but split in instinct. All six members voted to hold the repo rate at 5.50%, yet their statements show unease over how much room remains before inflation edges back above target.The next monetary policy meeting, due in October, will be shaped not by the 100 basis points of cuts already delivered since February, but by how much of that easing has seeped through the economy.
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