RBI to closely monitor food price spike to gauge inflation impact: MPC minutes

India's monetary policy committee (MPC) will closely monitor factors affecting inflation and take necessary action, but expects recent food price increases to be temporary. The committee highlighted risks to inflation from El Nino conditions, global food prices, and uneven monsoon distribution. The MPC kept the repo rate unchanged at 6.50% in a unanimous decision. https://ift.tt/720K9GA