Central Banks

India's central bank keeps policy rate steady at 6.75%

RBI governor, Raghuram Rajan

India's central bank kept its policy rate on hold at 6.75 percent on Tuesday, as widely expected, opting to wait until after the government's annual budget statement at the end of February to decide on whether to cut interest rates further.

Almost all of the 39 economists polled by Reuters had expected the Reserve Bank of India to keep interest rates on hold on Tuesday.

The central bank cut the repo rate by 125 basis points in 2015, including by a bigger-than-expected 50 bps in September. It held rates at its last meeting in December.

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