RBI Stuns Bond Market With Surprise India Rate Hike

The transcript discusses the need to maintain macroeconomic and financial stability while adapting to dynamic changes. The Monetary Policy Committee (MPC) held an off-cycle meeting to reassess inflation and growth dynamics, leading to a unanimous decision to increase the policy repo rate by 40 basis points to 4.40%. The standing deposit facility rate was adjusted to 4.15%, and the marginal standing facility rate and bank rate to 4.65%. The MPC aims to remain accommodative, focusing on withdrawing accommodation to keep inflation within target while supporting growth.

What was the adjusted standing deposit facility rate after the Monetary Policy Committee's decision?

What does the term 'status quo' refer to in the context of the Monetary Policy Committee's decision?