Mumbai, Aug. 19 -- Reserve Bank of India (RBI) Governor Sanjay Malhotra has kept the outlook for the policy rate open, saying the central bank would need greater clarity on the inflation trajectory before considering any recalibration of the policy rate, according to the minutes of the Monetary Policy Committee (MPC) meeting.

Malhotra, who voted to keep the policy rate unchanged while retaining the neutral stance, said inflation has been showing signs of normalisation from the benign levels seen earlier. However, he preferred to wait for more evidence before taking any decision on the future policy rate.

"I would prefer to wait for more certainty to emerge on the inflation trajectory in terms of the persistence of realised prints at the...