India holds but signals cuts could come

The Reserve Bank of India kept its benchmark repo rate at an all-time low of 5.5% on Tuesday but indicated it could soon cut further with the Indian economy vulnerable to the fallout of the financial crisis.

Analysts were split on whether the central bank would loosen or hold this week. The Reserve Bank, which has already cut by 350 basis points since October, said rates were at the appropriate level for the time being, but indicated further loosening may well be required in the coming months

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