The Reserve Bank of India maintained its repo rate at 6.0% in a 5-1 vote, noting a continuing rise in inflation.
The bank kept the reverse repo rate constant at 5.75%, while the marginal standing facility rate and the bank rate will both stand at 6.25%.
One member of the monetary policy committee voted for an increase in the policy rate by 25 basis points.
Retail inflation rose for the sixth consecutive month in December 2017, due to "a strong unfavorable base effect," the RBI said. Meanwhile, households' inflation expectations stayed elevated for the upcoming three- and 12-month periods, according to a survey by the bank.
India's real gross value added growth is estimated to decelerate to 6.1% in the 2017-2018 fiscal year from 7.1% in the prior fiscal year due to a slowdown in agriculture and allied activities, mining, quarrying and manufacturing, among other things, it said.
