MUMBAI, India (AP) — India’s central bank left its key interest rate unchanged Monday due to inflation concerns, thwarting hopes of a rate cut to kick-start flagging growth in Asia’s third-largest economy.
The Reserve Bank of India said the policy repo rate — at which it makes short-term loans to banks — would remain unchanged at 8.0 percent, and the cash reserve ratio — the ratio of cash which banks must keep on hand — would stay at 4.75 percent.
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