MUMBAI: India’s central bank has kept its key lending rate unchanged, leaving the door open for more easing but making that dependent on meeting a challenging inflation target for 2017.
At its last meeting in September, the Reserve Bank of India (RBI) slashed the repo rate by 50 basis points to 6.75% to boost growth. Yesterday’s hold had been widely expected, after consumer inflation picked up to a four-month high of 5% in October and as emerging markets brace for a hike in US interest rates.
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