The Reserve Bank Of India Looks Set To Keep Its Policy Rate On Hold

The Reserve Bank of India looks set to keep its policy rate on hold on Wednesday, after inflation accelerated to a seven-month high and stronger economic growth reduced the need for monetary stimulus.

All but two of 54 analysts in a Reuters Poll said the repo rate would be left at 6.00 percent, the lowest since November 2010.

In August, the RBI made its only cut in 2017, of 25 basis points, and in October, it held.

On Wednesday, after a two-day meeting, the RBI is likely to reiterate concern about inflation, as the annual rate increased to 3.58 percent in October. That's low by Indian standards, but not far from the central bank's 4 percent target.

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