India’s rate panel holds key repo rate steady, as expected

MUMBAI: India’s monetary policy committee held the key repo rate unchanged for a seventh straight policy meeting on Friday as it awaited a sustained fall in inflation towards its 4% target, with economic growth also remaining robust.

India’s forex reserves jump to record high

The Reserve Bank of India kept the main lending rate unchanged at 6.5%, in line with expectations. The repo rate was raised by a total of 250 basis points between May 2022 and February 2023.