India central bank keeps rates on hold, as expected
MUMBAI, Dec 5 (Reuters) - India's central bank kept interest
rates unchanged at a policy meeting on Wednesday to offer
support for an economy that has lost some momentum, in a
decision that was widely expected as inflation has eased
The monetary policy committee (MPC) kept the repo rate unchanged at 6.50 percent on Wednesday as predicted
by 64 of 70 analysts in a Reuters poll. The central bank also
retained its 'calibrated tightening' stance as expected.
All six members of the MPC voted to keep the rates on hold.
The central bank said starting in the January-March quarter
of 2019 it would begin to lower banks' mandatory bond holding
ratios by 25 basis points each quarter until it reaches 18
percent of deposits, in a move aimed to push banks to lend more.
(Reporting by Swati Bhat and Suvashree Dey Choudhury; Editing
by Simon Cameron-Moore)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.