RBI Holds Rates Steady, Commits to Liquidity; FY27 Rates Likely Unchanged

• RBI's MPC unanimously kept the repo rate unchanged at 5.25% in its 59th meeting (Feb 4-6).
• SDF rate remains at 5.00%, MSF and bank rate at 5.50%; 'neutral stance' continues.
• Robust FY26 GDP growth of 7.4% projected, with Q1FY27 at 6.90% and Q2FY27 at 7.0%.
• Headline CPI inflation subdued at 0.7% (Nov 2025) and 1.3% (Dec 2025), well below 2-6% tolerance.
• RBI infused liquidity via OMO purchases (Rs 4.5 lakh crore) and forex swaps ($25.10 billion).