The Reserve Bank of India’s (RBI) six-member Monetary Policy Committee (MPC) which will meet between August 8-10 is widely expected to keep the policy repo rate unchanged for the third consecutive time at 6.5 per cent. While there’re concerns over higher consumer price index (CPI) inflation, driven by an increase in prices of vegetables and pulses, the central bank may continue with its policy stance of ‘withdrawal of accommodation’ amidst surplus liquidity in the banking system.
What happened in the previous two monetary policies?