Rajan Holds India Rates in Final Move as Inflation Quickens

August 9, 2016 6:07 AM

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Rajan Holds India Rates in Final Move as Inflation Quickens

India’s central bank Governor Raghuram Rajan left interest rates unchanged at his last policy review as food prices threaten to push inflation above the nation’s target.

The benchmark repurchase rate will stay at a five-year low of 6.50 percent, the Reserve Bank of India said in a statement in Mumbai on Tuesday. The move was predicted by 27 of 29 economists in a Bloomberg survey, with two expecting a cut to 6.25 percent.

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