Reported about 1 year ago
The Indian central bank announced on June 7 that it would maintain interest rates unchanged while slightly increasing the annual growth expectation for the Indian economy, attributing it to continued strong consumption. The bank has kept its policy repo rate at 6.5% for the seventh consecutive time and remains relatively hawkish in its 'exit from loose' stance. Following the interest rate decision, the Indian stock market rose by 1%. Despite rising rates and inflation pressures, the bank has raised the current fiscal year's Gross Domestic Product (GDP) growth forecast to 7.2%, higher than the previous 7% prediction, due to economic prosperity following the COVID-19 pandemic.
Source: YAHOO