RBI Governor Urjit Patel cited lower inflation to hold rates
Reserve Bank of India Governor Urjit Patel cited moderation in inflation in the last two months to keep the repo rate unchanged. Patel also maintained that the central bank is not obliged to increase the rate at every policy meeting. After two consecutive hikes, the RBI's Monetary Policy Committee kept rates unchanged at its October meeting with a 5-1 vote. 