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India Central Bank Keeps Rates Unchanged in Line with Expectations; Indian Rupee Edges Up
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The Reserve Bank of India (RBI) announced that all six members of the Monetary Policy Committee unanimously agreed to keep the benchmark reverse repo rate unchanged at 5.25%, in line with market expectations. Governor Sanjay Malhotra said the committee had noted a deterioration in the global environment. Inflation is expected to edge higher, while underlying inflationary pressures remain benign. He added that attention should be paid to potential second-round effects of price pressures. As a key focus of the central bank, India’s inflation rate stood at 3.48% in April, below the Reserve Bank of India’s 4% target and within the tolerance band of 2% to 6%. The Indian rupee edged up 0.1% to 95.7088 against the US dollar, though it remained close to a record low. (da/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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