MPC minutes: Policy space exists for rate cut, but this is not the opportune time; says RBI Governor

Reserve Bank of India Governor Sanjay Malhotra indicated that a policy space exists for a future interest rate cut, but stressed the need for the right timing to maximize impact. While inflation outlook is benign, global uncertainties necessitate waiting for existing measures to take effect before further action. The central bank maintained the benchmark lending rate at 5.50%.