Despite Repo Rate Being At A 9-Year High, RBI Is Still Grappling With High Food Prices

The Reserve Bank of India (RBI) has kept repo rates unchanged for the seventh straight policy. At 6.50%, the repo rate has never been higher since September 2015. So, with all Indian economic indicators looking upwards, why has the Monetary Policy Committee (MPC) of the RBI decided by a majority of 5-1 to keep repo rates unchanged? The sole reason is food prices. Listen to what the RBI Governor has to say about inflation and food prices.