Friday, October 24, 2014   

India keeps rates steady in first decision under Modi
(06-03 15:18)

India's central bank kept key interest rates unchanged Tuesday in its first monetary policy announcement since new pro-growth Prime Minister Narendra Modi took office.
Amid speculation the Reserve Bank of India's (RBI) stern stand on inflation could clash with Modi's aim of reviving the economy, the bank's chief Raghuram Rajan appeared to soften his hawkish tone.
After meeting in financial capital Mumbai, the RBI said the benchmark repo rate, at which it lends to commercial banks, would remain unchanged at 8.0 percent and the cash reserve ratio would be kept at 4.0 percent.
Modi's decisive election result, together with "improved sentiment'' should create a sound environment for new policy steps and demand revival as well as gradual growth recovery, Rajan said. --AFP   
Other Business breaking news:
Hang Seng dips by lunch (2 hrs 40 mins ago)
Kia posts sharp Q3 profit decline (10-24 11:10)
Nikkei up by break (10-24 10:55)
Spain jobless rate down: official data (10-23 18:17)
German industry downgrades growth forecast (10-23 17:24)
UK retail sales fall in warm September: data (10-23 17:22)
Eurozone business activity picks up, worries remain: survey (10-23 16:49)
Hang Seng dips on profit-taking (10-23 16:41)
European stock markets drop at open (10-23 16:09)
Daimler says profits up strongly in Q3 (10-23 16:09)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.