8/06/2023 10:22:49 AM | Source: Reuters
India central bank holds rates as expected
The Indian central bank's key lending rate was held steady at a second straight policy meeting on Thursday, as widely anticipated, as it looks to study the impact of its past hikes on inflation.
The monetary policy committee (MPC), which has three members from the Reserve Bank of India and three external members, kept the repo rate steady at 6.50% in a unanimous decision.
All 64 economists in a Reuters poll taken between May 16 and 29 expected no change in rates.
The RBI's policy remained as 'withdrawal of accommodation', Governor Shaktikanta Das said while announcing the MPC's decision.
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