Mumbai, Aug. 7 -- The week gone by delivered a cautious domestic policy hold, softening activity data globally, and a tentatively constructive shift in the Hormuz corridor.

The RBI's Monetary Policy Committee (MPC) unanimously voted to keep the repo rate unchanged at 5.25% at its August meeting, with Governor Sanjay Malhotra saying that the committee wanted "greater clarity" on the inflation outlook before taking further policy action.

The Governor has highlighted volatile crude oil prices, an uneven monsoon and global geopolitical uncertainty as key risks, while the RBI's projections indicate that headline inflation is likely to be highest in the October-December quarter before easing thereafter.

The latest HSBC India PMI data for Jul...