RBI Holds Key Interest Rate Steady at 6.50% in July 2026 Policy Review

The Reserve Bank of India (RBI) announced today that it will keep its key policy repo rate unchanged at 6.50%, citing stable inflation and moderate economic growth. The decision was made during the central bank’s bi-monthly monetary policy meeting held in Mumbai. RBI Governor stated that inflation remains within the targeted range of 4% +/- 2%, with consumer price inflation at 5.1% in June 2026, according to Bloomberg. The RBI also maintained its GDP growth forecast at 6.2% for the current fiscal year. The central bank emphasized a cautious approach amid global uncertainties and domestic demand conditions. This marks the third consecutive meeting where the rate has been held steady to support economic recovery while keeping inflation in check, Reuters reported.