The RBI's MPC meeting held during August 3-5, 2026 delivered a unanimous decision to hold the repo rate at 5.25% while retaining a neutral stance. Markets remained largely unchanged post the policy outcome, as the Governor's tone was neutral and broadly in line with expectations. However, the minutes, published on August 19, carried a more hawkish undertone than the headline decision implied, and 10Y IGB yields hardened by 3-4 bps to 6.85-6.86% in response
