December 7, 2016 / 9:04 AM / a year ago

India cenbank unexpectedly keeps rates unchanged

MUMBAI, Dec 7 (Reuters) - India’s central bank unexpectedly kept its policy repo rate unchanged at 6.25 percent on Wednesday, despite calls for action as an intense cash shortage threatens to slam the brakes on the world’s fastest growing major economy.

The Reserve Bank of India’s monetary policy committee voted 6-0 to leave the repo rate unchanged, after cutting it by 25 basis points (bps) at its last review in October.

A majority of the 56 analysts polled by Reuters had expected a rate cut of at least 25 bps, though 18 had forecast policy would remain unchanged. (Reporting by Suvashree Dey Choudhury and Rafael Nam; Editing by Kim Coghill)

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