Thursday, April 24, 2014   

India stays course on rates
(12-18 14:36)

India's central bank kept key interest rates unchanged, despite widely held expectations of an increase to contain inflation.
After meeting in the financial capital Mumbai, the Reserve Bank of India said the benchmark repo rate, at which it lends to commercial banks, would remain at 7.75 percent. The bank also kept the cash reserve ratio – the percentage of deposits banks must hold at the central bank – unchanged at 4 percent.
Most economists had predicted a rate rise after wholesale inflation surprisingly surged to 7.52 percent in November, data this week showed, which is well above the RBI's comfort zone of 5 percent.—AFP

Other Business breaking news:
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Better business activity in Europe: survey (04-23 18:24)
Eurozone deficits improve, debt mounts (04-23 17:10)
China pork firm scales down IPO target (04-23 17:08)
Hang Seng, Shanghai fall at close (04-23 16:47)
China to increase natural gas supply (04-23 16:16)
China Mobile profit down (04-23 15:53)
European markets open flat (04-23 15:40)
Australia sees higher price levels in first quarter (04-23 15:13)
Nikkei rallies at close (04-23 14:16)

More breaking news >>

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