India RBI Unexpectedly Holds Interest Rates, Bonds Rally
- MPC won’t hesitate to act as needed during future reviews: Das
- RBI wants to assess impact of 250 basis points of hikes so far
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India unexpectedly left its benchmark interest rate unchanged and pledged to hike again if needed, joining other central banks in pausing as global banking woes add uncertainty to the economic outlook.
The Reserve Bank of India’s six-member Monetary Policy Committee unanimously voted on Thursday to keep the repurchase rate at 6.50%, a move expected by only six of 33 economists surveyed by Bloomberg.