Wed, 18 Dec 2013 07:12:03 GMT
India CB unexpectedly keeps rates unchanged
The Reserve Bank of India decided to keep the main interest rate unchanged, even though the country faces a significant increase in consumer price index, as it reached more than 11% last month. The benchmark rate was held at 7.75%, while economists predicted it to rise, on average, to 8%. The CB officials explain their decision by the necessity to