Mumbai, Aug. 6 -- The Reserve Bank of India's monetary policy committee announced a status quo on policy rate amid tariff uncertainties and continuing policy transmission of the previous rate cuts. The six-member MPC voted unanimously to keep the repo rate unchanged at 5.5% and maintain the policy stance at 'neutral'.

The action is in line with the outcome of a Mint poll of 15 economists, which suggested the MPC was likely to keep the repo rate unchanged, with four anticipating a 25 basis points cut to 5.25% in the August monetary policy meeting. The repo rate is the rate at which the central bank lends money to commercial banks for their short-term needs, typically against government securities as collateral.

"The current macroeconomic...