<h1>Monetary policy stance: neutral; repo rate unchanged to preserve space to support growth amid benign inflation and external risks monitored.</h1> The Monetary Policy Committee retained the policy repo rate at 5.50 per cent, with SDF at 5.25 per cent and MSF/Bank Rate at 5.75 per cent, and kept a neutral stance. The decision rests on materially lower headline inflation-revised to 2.6 per cent for 2025-26-driven by benign food prices and GST rate rationalisation, and on a resilient growth outlook with GDP projected at 6.8 per cent. Policy space to support demand was weighed against downside risks from external demand, tariff and trade uncertainty, and geopolitical volatility.