empty
 
 

2019.12.0505:33:00UTC+00India Leaves Policy Rates Unchanged

India's central bank maintained its interest rates on Thursday after lowering it five times this year.

The Monetary Policy Committee of the Reserve Bank of India, headed by Shaktikanta Das, unanimously decided to leave the repo rate unchanged at 5.15 percent and the reverse repo at 4.90 percent.

The bank was widely expected to ease the policy rates by quarter points. The central bank has so far lowered its key rate five times this year by a cumulative 135 basis points.

The bank said there is monetary policy space for future action. "However, given the evolving growth-inflation dynamics, the MPC felt it appropriate to take a pause at this juncture," the bank said.

The bank lowered sharply its real GDP growth outlook for 2019-20 to 5 percent from 6.1 percent.

The bank cited a delay in revival of domestic demand, a further slowdown in global economic activity and geo-political tensions as downside risks.

Meanwhile, the CPI inflation projection was revised upwards to 5.1-4.7 percent for the second half of the financial year 2019-20 and 4.0-3.8 percent for the first half of FY 2020-21.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback