Central Bank of India Kept Its Rates Constant

The Central Bank of India kept the policy rate unchanged at 4 percent.

The Central Bank of India kept its rates constant. As India became the new center of gravity of the world in the coronavirus epidemic, the central bank also decided to keep the policy rate constant at the current level. The Central Bank did not change the policy rate and kept it at the current level of 4 percent. The expectation of the economists who participated in the survey conducted by Bloomberg was to keep the policy rate constant at 4 percent. After the decision of the Central Bank of India, the decline in the Indian rupee reached 0.5 percent. While the country is experiencing the second wave in the coronavirus epidemic, the central bank also gave the message that it is ready for steps to support growth by continuing the expansionary monetary policy as long as necessary in the interest rate decision. According to the current data announced in India, the number of new cases per day in the coronavirus epidemic has reached over 100 thousand. A record was broken with the daily number of cases in question.