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The Reserve Bank of India (RBI) maintained its key repo rate at 5.50% during its August meeting, keeping a neutral stance, following a larger-than-expected 50 bps in June, as widely expected. The rate remains at its lowest level since August 2022. The decision came amid easing inflation and the recent US tariff announcement, which imposed a 25% duty on Indian imports. Regarding the economic outlook, the RBI maintained its GDP growth forecast at 6.5% for FY2025/26 and 6.6% for the following fiscal year. Meanwhile, inflation projections were revised down to 3.1% from 3.7%, remaining well within the RBI’s 2–6% target range. The RBI also held the Standing Deposit Facility (SDF) and the Marginal Standing Facility (MSF) rates steady at 5.25% and 5.75%, respectively. Previously, the central bank cut the Cash Reserve Ratio (CRR) by 100 bps—from 4% to 3%—at its June meeting, implemented in four tranches of 25 basis points each, starting in September 2025.