India's central bank keeps policy rate on hold at 6.75%
[MUMBAI] India's central bank kept its policy rate on hold at 6.75 per cent on Tuesday, as widely expected, opting to wait until after the government's annual budget statement at the end February to decide on whether to cut interest rates further.
Almost all of the 39 economists polled by Reuters had expected the Reserve Bank of India to keep interest rates on hold on Tuesday.
The central bank cut the repo rate by 125 basis points in 2015, including by a bigger-than-expected 50 bps in September. It held rates at its last meeting in December.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’