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Investing.com -- India’s central bank kept its policy rate unchanged on Wednesday as uncertainties surrounding U.S. trade policies continue to affect the South Asian economy’s outlook.
The Reserve Bank of India (NSE:BOI)’s monetary policy committee unanimously voted to maintain its policy repo rate at 5.50% and keep its monetary policy stance at neutral.
"Prospects of external demand remain uncertain amid ongoing tariff discussions," RBI Governor Sanjay Malhotra said.
"The current macroeconomic conditions, outlook and the uncertainties call for continuation of the policy repo rate," Malhotra added.
The decision follows U.S. President Trump’s announcement of plans to increase tariffs on India in retaliation for India’s purchases of Russian oil.
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