RBI HOLDS RATES STEADY FOR 3RD TIME, RAISES INFLATION FORECAST TO 5.4% FOR FY24

India's central bank kept its key repo rate unchanged for the third consecutive meeting, signaling a prolonged pause amid inflation concerns. The Monetary Policy Committee (MPC) also maintained its 'withdrawal of accommodation' stance. The Reserve Bank of India raised its consumer inflation forecast for fiscal year 2024 to 5.4% from 5.1%, while keeping the GDP growth projection steady at 6.5%.