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    <title>Fifth Bi-monthly Monetary Policy Statement for 2019-20</title>
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    <description>The Monetary Policy Committee kept the policy repo rate at 5.15% and maintained an accommodative stance to revive growth while ensuring inflation remains within the target. The decision reflects a pause given weakened domestic activity, elevated food-driven CPI inflation, surplus liquidity managed via longer-term reverse repo operations, and partially effective monetary transmission. CPI inflation projections were revised up for H2:2019-20 and GDP growth was revised down to 5.0% for 2019-20, with continued monitoring of incoming data and policy transmission measures.</description>
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