The RBI Governor-led MPC is currently holding three-day deliberations to decide on short-term lending rates. The retail inflation remains near the higher end of the central bank's comfort zone, leading to expectations of a continued status quo on interest rates. The RBI has kept the repo rate stable at 6.5% for almost a year, with the last rate hike occurring in February 2023. While the retail inflation has declined from its peak, it is still high at 5.69% in December 2023. Governor Das will announce the MPC's decision on Thursday.