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The MPC concluded its review by reiterating confidence in the underlying strength of the Indian economy, which continued to register robust growth despite a challenging and uncertain global environment marked by persistent geopolitical risks. The committee noted that recent trade agreements provided an added layer of comfort to the medium-term outlook, even as near-term global uncertainties remained elevated. Against this backdrop, the prevailing policy rate and stance were judged as appropriately calibrated to remain growth supportive while preserving macroeconomic stability.The MPC left the policy repo rate and stance unchanged, assessing the near-term growth and inflation configuration as broadly favourable. Economic activity continued to show resilience, with momentum sustained across sectors. External conditions were assessed as broadly supportive, with trade-related developments helping cushion domestic growth prospects. With transmission of past policy actions still unfolding, the committee reiterated that maintaining the existing rate and stance was consistent with anchoring inflation expectations and supporting growth.Looking ahead, policy deliberations will be increasingly guided by incoming data, including the new series of GDP and CPI, as the MPC assesses evolving inflation dynamics and the durability of growth impulses in an uncertain global setting.

February 6, 2026 at 2:47 AM IST