<h1>Monetary policy rate cut eases borrowing costs and shifts stance to neutral to support growth amid benign inflation.</h1> The Monetary Policy Committee resolved to reduce the policy repo rate by 50 basis points, adjust the associated standing deposit and marginal standing facility/Bank Rate accordingly, and change the monetary policy stance from accommodative to neutral. This action, taken after review of surveys, staff macro projections, and risk scenarios, is intended to support growth while guiding CPI inflation toward the medium term target. The minutes record each member's vote, individual statements explaining the rationale for front loaded easing or a more measured cut, and note limited residual policy space and the need to monitor transmission and incoming data.