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India’s Central Bank keeps interest rates steady

by ChemOrbis Editorial Team - content@chemorbis.com
  • 09/08/2016 (15:15)
According to media reports, the Reserve Bank of India (RBI) kept monetary policy steady due to rising inflation as expected. The central bank kept its repo rate unchanged at 6.5% and reverse repo rate at 6% and added that the policy would maintain its accommodative feature. Analysts believe the accommodative feature refers to inflation.

Annual consumer price inflation (CPI) rate in June rose to 5.77% after witnessing rises of 5.76% in May and 5.39% in April. This was the fastest price increase since August 2014.
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