Governor Sanjay Malhotra isn’t being lazy. He’s playing chess. With inflation still breathing down the economy’s neck, and global risks like oil prices and monsoon swings hanging like swords, the RBI’s holding its breath; waiting for clearer signs before making a move. And that’s smart. Because right now, borrowing costs stay the same, which means EMIs won’t change… yet. But if inflation starts running hot; or if crude prices spike again; the RBI will act. Fast. So while you’re busy planning your next loan or investment, remember: the real story isn’t in the rate… it’s in the risk. And right now, the RBI’s betting on patience.