Saturday, April 19, 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

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