RBI eyes unwelcome turnaround in India’s economy

Central bank on hold as growth slows and inflation ticks up sharply

Reserve Bank of India in Mumbai
The Reserve Bank of India
Photo: RBI

Having brought inflation down to historic lows, the Reserve Bank of India is now facing a sudden turnaround for the Indian economy, as growth slows and inflation leaps up.

The central bank’s monetary policy committee today (October 4) announced it would be keeping the policy rate on hold at 6%, pausing an easing cycle that has gone on for the past two years.

“We express concern about the loss of momentum of growth in the early months of 2017–18, especially the persisting weakness in

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