India cenbank keeps rates steady at 6.50% shifts to ‘neutral’ stance

October 9, 2024
-FCHFX

October 09, 2024 at 06:13AM
India cenbank holds rates at 6.50%, shifts stance to ‘neutral,’ signaling potential rate cuts

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The Reserve Bank of India (RBI) kept its key interest rate unchanged at 6.50% but shifted its stance to “neutral,” signaling the possibility of rate cuts in the near future. T

his marks a shift from the previous “withdrawal of accommodation” stance as early signs of economic slowdown begin to surface.

The central bank remains focused on controlling inflation, which has stayed below its 4% target for two consecutive months.

Meanwhile, India’s benchmark bond yields dropped, and the Nifty 50 and Sensex indexes edged higher following the decision.

This article was written by Ryan Paisey at www.forexlive.com.

India cenbank keeps rates steady at 6.50% shifts to ‘neutral’ stance