India keeps interest rates on hold

According to media reports, the Reserve Bank of India kept its policy rate unchanged in line with expectations. The bank stated that it will wait for the government’s annual budget statement in late February before making a decision on whether or not to further cut rates. Throughout 2015, the Indian central bank cut its policy repo rate by 125 basis points.

Meanwhile, Reuters’ economists forecast a rate cut of at least 25 basis points by late June, with some even estimating that a cut may surface in March.