Central Bank of India kept interest rates unchanged

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Following the results of the meeting on Friday, the Central Bank of India decided to keep interest rates unchanged, while analysts had expected the Central Bank to raise interest rates in order to reduce inflationary pressure. The regulator left the direct repo rate at the level of 6.5% per annum and said that such a solution allows achieving the medium-term target of 4%. It is also reported that the Central Bank of India’s inflation forecast for the second financial half-year through March was lowered to 3.9% -4.5% from 4.8% previously projected, amid a slowdown in consumer prices in recent months.

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