India Keeps Key Rate Unchanged As Focus On Inflation Remains, Fifth Pause In A Row

The Reserve Bank of India's (RBI) key lending rate was held steady with inflation control remaining a major focus amid expectations of a spike in food prices in coming months and better than expected economic growth. The six-member monetary policy committee (MPC), consisting of three Reserve Bank of India (RBI) and three external members, kept the repo rate unchanged at 6.50% in line with the unanimous consensus in a Reuters poll.