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RBI Keeps Rates On Hold As Expected

INDIA

As expected the RBI kept rates on hold, citing the need to safeguard the recovery, the split was 5-1 the same as at the August meeting. In the opening part of his speech RBI Governor Das was positive on the economy saying the recovery had gained momentum and noted that the inflation trajectory is more favourable. Markets still expect the RBI to tweak its liquidity settings to keep a lid on inflation in the face of soaring energy prices.

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