India keeps rates on hold

Comment on this story
Reserve Bank of India Reuters.

Mumbai - India's central bank held interest rates steady on Tuesday, keeping a watchful eye on inflation as it waits to assess the impact of weak annual rains on food prices.

After meeting in financial capital Mumbai, the Reserve Bank of India (RBI) said the benchmark repo rate, at which it lends to commercial banks, would remain unchanged at a steep 8.0 percent.

The move was widely expected by economists, who said the RBI needed time to assess whether a drought situation could emerge and send food prices soaring. - Sapa-AFP

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines