Reserve Bank of India Governor Shaktikanta Das said policymakers must remain steadfast amid some softening in inflation in the fast-growing South Asian economy, signaling he’s not in a hurry to loosen policy settings.

India’s retail inflation inched up to 3.65% in August, primarily due to food prices, but has stayed within RBI’s target. Although this and a likely rate cut in the US has tempered rate cut expectations in India,