Rajan Holds Rate for Fourth Meeting in India Inflation Fight

India’s central bank left interest rates unchanged for a fourth straight meeting, continuing a fight against Asia’s fastest inflation as Prime Minister Narendra Modi takes steps to revive the manufacturing sector.

Governor Raghuram Rajan kept the benchmark repurchase rate at 8 percent, the Reserve Bank of India said in a statement in Mumbai today, a move predicted by all 51 economists in a Bloomberg survey. While the near-term consumer price inflation outlook is balanced “with a slant to the downside,” risks to the January 2016 target of 6 percent are “still to the upside, though somewhat lower than in the last policy statement.”