USD / INR recorded 82 on Thursday.Steady after an intraday low of 8950, the Reserve Bank of India held its benchmark repo rate at 6 for the sixth consecutive policy meeting in February..5% unchanged, which is largely in line with expectations。

The policy decision comes after India's annual inflation rate rose to 5 in December last year..69% after a four-month high, but remains within the central bank's 2% -6% target range。

India's central bank has implemented a 250 basis point rate hike between May 2022 and February 2023.。

According to RBI Governor Shaktikanta Das, monetary policy must still actively curb inflation。

"Last-mile deflation is always the most challenging, and that must be kept in mind."。India's central bank governor said in a statement.。

"Inflation that is stable and below 4 percent will provide the necessary foundation for sustainable economic growth," Das added.。

Five of the six policymakers supported this rate decision and the "de-easing" monetary policy stance.。1 other member voted for a 25 basis point rate cut and a neutral stance。

"The central bank is likely to change its stance in the first quarter of fiscal 2024-25, and it will begin its rate cut cycle in the second quarter."。Sakshi Gupta, chief economist at HDFC Bank, said in an interview with Reuters.。

"However, given the Bank of India's cautious approach to inflation, the opportunity to cut interest rates is increasingly likely to be delayed rather than advanced.。"

Elara Capital said it expects a 75 basis point rate cut at the start of the RBI's monetary easing cycle around the second quarter of 2024.。

Meanwhile, the central bank left its GDP growth forecast for fiscal 2024 unchanged at 7.3%, with an inflation forecast of 5.4%。

Dollar / Indian Rupee currency pair edged up 0 as of 8: 07 GMT Thursday.04%, reported 82.9825。