India’s central bank keeps interest rates unchanged

AFP, MUMBAI: India’s central bank kept interest rates at a seven-year low yesterday, citing concerns over accelerating inflation and rising oil prices as a reason not to cut them.

The Reserve Bank of India (RBI) said the benchmark repo rate—the level at which it lends to commercial banks --- would remain unchanged at 6.0 per cent.

The decision was in line with analysts’ expectations.

“The MPC (monetary policy committee) notes that the inflation outlook is clouded by several uncertainties on the upside,” the RBI said in a statement.

 

Indias central bank keeps interest rates unchanged

AFP, MUMBAI: Indias central bank kept interest rates at a seven-year low yesterday, citing concerns over accelerating inflation and rising oil prices as a reason not to cut them. The Reserve Bank of India (RBI) said the benchmark repo ratethe level at which it lends to commercial banks --- would remain unchanged at 6.0 per cent. The decision was in line with analysts expectations. The MPC (monetary policy committee) notes that the inflation outlook is clouded by several uncertainties on the upside, the RBI said in a statement.