By Kosaku NariokaIndia's central bank maintained its policy rate on Thursday as domestic inflation has moderated. Shaktikanta Das said the monetary-policy committee unanimously decided to maintain its policy repo rate at 6.50%. All 15 economists surveyed by The Wall Street Journal expected the Indian central bank to stand pat on its policy rate. The central bank projects annual inflation of 5.1% for the new fiscal year that started in April, compared with its previous projection of 5.2%, Das said. The central bank unexpectedly kept its policy rate unchanged in April amid turbulence in the global banking sector, saying it needed to assess the impact of its recent rate increases.

Source: Wall Street Journal June 08, 2023 11:35 UTC