February 8, 2017 / 9:04 AM / 8 months ago

Indian cenbank keeps policy rate on hold for 2nd meeting in a row

MUMBAI, Feb 8 (Reuters) - India’s central bank kept its repo rate on hold at 6.25 percent for a second straight policy meeting, opting to wait for more clarity on inflation trends and on how a radical crackdown on “black money” is impacting economic growth.

The Reserve Bank of India’s (RBI) monetary policy committee on Wednesday voted 6-0, its third unanimous decision in a row since being established in September.

Before the meeting, analysts were split on what the RBI would do. In a Reuters poll last week, 28 of 46 participants saw the central bank cutting the repo rate by a quarter point and two expected a 50 bps cut.

But others correctly predicted the RBI would wait until its next policy review in April. (Reporting by Suvashree Dey Choudhury and Rafael Nam; Editing by Richard Borsuk)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below