The MPC meeting held during October 57, 2026, unanimously voted to raise the policy repo rate under the LAF by 25 bps to 5.50% and changed the stance to calibrated tightening. Consequently, the SDF rate stands at 5.25%, while the MSF rate and the Bank Rate stand at 5.75%. The MPC noted that inflation is no longer benign, with headline CPI rising to 4.8% in August 2026 and projected at 6.0% in Q3FY27, 5.7% in Q4FY27 and 5.6% in Q1FY28. Core inflation rose to 4.2% in August and is projected at 4.4% for FY27, so the MPC considered a policy recalibration imperative. Growth remains resilient (Q1 GDP at 7.8%). Rate cuts are off the table in the near...