RBI keeps key rates unchanged

Dec 16, 2010 |

Reuters

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Mumbai: The Reserve Bank of India left key interest rates on hold on Thursday, as expected, after six increases since March.

Most of 23 economists surveyed had expected the Reserve Bank of India to keep rates on hold this week while expecting another 25 basis points of increase in key rates by end-March 2011, a Reuters poll on Tuesday had showed.

The Reserve Bank of India has been the most aggressive major central bank in Asia this year, lifting key lending and borrowing rates by 150 and 200 basis points, respectively, as surging prices spurred by rising food costs undermine purchasing power in an economy growing at nearly nine per cent.

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