India Hold Interest Rate at 8 Percent

India’s central bank on Tuesday left its benchmark interest rate unchanged at 8 percent in a widely anticipated move.

If inflation continues on its intended path, further policy tightening is not anticipated in the near term, the Reserve Bank of India said in a statement.
The country’s consumer price inflation eased to 8.10 percent in February from a year earlier, near the 8 percent target the RBI has for January 2015.

Since taking office in September, RBI Governor Raghuram Rajan has raised the repo rate three times by a total of 75 basis points.

India’s benchmark index declined 0.2 percent following the decision. Earlier in the session, the index hit a fresh record high of 22,485 points.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza