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Indian cenbank keeps policy rate on hold for 2nd meeting in a row
February 8, 2017 / 9:03 AM / 10 months ago

Indian cenbank keeps policy rate on hold for 2nd meeting in a row

MUMBAI, Feb 8 (Reuters) - India’s central bank kept its repo rate on hold at 6.25 percent for a second straight policy meeting, opting to wait for more clarity on inflation trends and on how a radical crackdown on “black money” is impacting economic growth.

The Reserve Bank of India’s (RBI) monetary policy committee on Wednesday voted 6-0, its third unanimous decision in a row since being established in September.

Before the meeting, analysts were split on what the RBI would do. In a Reuters poll last week, 28 of 46 participants saw the central bank cutting the repo rate by a quarter point and two expected a 50 bps cut.

But others correctly predicted the RBI would wait until its next policy review in April. (Reporting by Suvashree Dey Choudhury and Rafael Nam; Editing by Richard Borsuk)

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