Mumbai, Aug. 6 -- Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday said the Central bank's Monetary Policy Committee (MPC) has decided to hold the repo rate at 5.5% in its August review, opting for a wait-and-watch approach as the full impact of previous rate cuts continues to play out.

For loan borrowers, the decision means no additional relief on EMIs for now.

The RBI-led MPC has already lowered the repo rate by 100 basis points (1%) so far this year, but the transmission into lending rates has been slower than expected.

Officials expect monthly loan instalments to come down further in the coming months as the rate cuts work their way through the system.

x.com/SmalhotraRBI

"The coordinated use of various tools avai...