India Unexpectedly Keeps Rates Unchanged Before Fed Decision

Updated on
  • Decision was predicted by just 8 of 44 economists surveyed
  • RBI cuts its FY17 GVA growth forecast to 7.1% from 7.6%

DBS' Rao: RBI Needs to Take Growth Supportive Stance

India’s central bank unexpectedly kept interest rates unchanged before a possible increase in U.S. borrowing costs this month, as Governor Urjit Patel awaits clarity on the impact of the cash clampdown.

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