(MENAFN) India's central bank kept interest rates unchanged despite growing calls to ease monetary policy, saying a reduction would be "premature", AFP reported.
The Reserve Bank of India (RBI) said the benchmark repo rate, the level at which it lends to commercial banks, would remain at a steep 8.0 percent, in line with analysts' expectations.
"A change in the monetary policy stance at the current juncture is premature. However, if the current inflation momentum continues a change in the monetary policy stance is likely early next year," the bank said.
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