New Delhi, June 21 -- The Reserve Bank of India is expected to maintain its wait-and-watch stance and keep the repo rate at 5.25 per cent in coming meetings as the US-Iran peace agreement reduces geopolitical uncertainty, while it monitors food and fuel price pass-through before acting, BofA Securities said in a note on the June MPC minutes.

BofA Securities said the uncertainty clouding the outlook has eased since the June meeting following the conclusion of the US-Iran peace agreement. This gives the MPC more room to stay data-dependent rather than react to volatile energy prices. RBI Governor Malhotra highlighted that inflation risks have risen due to food and fuel shocks, but with underlying inflation still contained, a wait-and-watch...