RBI leaves interest rates unchanged

Reserve Bank of India’s monetary policy committee kept the key interest rate unchanged, noting risks to inflation, but expressed optimism that the slowdown in economic growth had bottomed out. The decision was in line with market expectations.

The repurchase rate—the rate at which the central bank infuses liquidity in the banking system— was left unchanged at 6%. RBI also maintained its neutral policy stance, which essentially means future calls on rate direction would be data-driven and in either direction.