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India cenbank leaves policy rate unchanged, cuts inflation projection
June 7, 2017 / 9:07 AM / 5 months ago

India cenbank leaves policy rate unchanged, cuts inflation projection

MUMBAI, June 7 (Reuters) - India’s central bank on Wednesday kept its policy repo rate unchanged at 6.25 percent, as widely expected, while lowering its projections for inflation after recent data showed consumer prices rising more slowly.

The Reserve Bank of India’s (RBI) decision to leave the repo rate at a 6-1/2 year low had been expected by 56 of the 60 analysts surveyed by Reuters. RBI last changed the policy rate with a 25 basis points cut in October.

The RBI also left its reverse repo rate unchanged at 6.00 percent after a surprise 25 basis point increase in April.

The vote by the central bank’s monetary policy committee was 5-1, the first dissent in the five meetings since the MPC was formed last September. (Reporting by Suvashree Dey Choudhury, Swati Bhat and Rafael Nam; Editing by Simon Cameron-Moore)

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