India keeps interest rate constant at 6.5%

ISTANBUL

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.