India’s central bank keeps rates on hold despite lower growth

And he said Reserve Bank of India The benchmark repo rate, the level at which commercial banks lend, will remain at 6.5 percent, the same rate as of February 2023.

And it started Central banks Major groups around the world have begun a global easing cycle in response to lower inflation – including the Reserve Bank Federal American, which reduced prices Interest In September, for the first time in four years.

Inflation in India has remained stubbornly above monetary policymakers’ target of 4 percent, hitting a 14-month high of 6.21 percent last October.

Reserve Bank of India Governor Shatikanta Das said the bank’s Monetary Policy Committee has noted a “recent slowdown in growth momentum” but sees the outlook as “resilient”.

“Increasing adverse conditions, rising geopolitical uncertainty and financial market volatility pose risks to inflation,” Das said.

A decision is coming Central Bank of India Keeping interest rates steady despite signs of slowing economic growth.

India’s GDP growth reached 5.4 percent in the September quarter, hurt by a slowdown in the manufacturing sector and weak urban spending.

While economic data still places India among the world’s fastest-growing major economies, it was the slowest pace of growth in seven quarters and below analysts’ expectations of 6.5 percent.

India’s central bank now expects growth to fall to 6.6 percent for the current fiscal year to March 31, down from a previous estimate of 7.2 percent.

The Reserve Bank of India has raised interest rates by 2.5 percentage points between May 2022 and February 2023.