By Gokhan Ergocun
ISTANBUL (AA) - The Reserve Bank of India has kept its policy interest rate at 6.5% on Thursday, in line with market expectations.
The bank also kept unchanged the standing deposit facility rate at 6.25% and the marginal standing facility rate at 6.75%, it stated.
Central Bank hiked the rate in February 2023 for last time to 6.5%.
The bank highlighted that the rate decision is in consonance with the objective of achieving the medium-term target for inflation of 4% within.
The inflation in the country increased to 5.1% in June 2024 after remaining steady at 4.8% during April-May 2024.
"Headline inflation has moderated from its peak but unevenly," it added.