India Cenbank Holds Rates, Shifts Stance to 'Neutral' Signalling Rate Cuts Ahead

INDIA - MUMBAI. The Reserve Bank of India (RBI) kept its key interest rate unchanged on Wednesday as widely expected, but changed its policy stance to "neutral", opening the door for rate cuts as early as December.

The Monetary Policy Committee (MPC), which consists of three RBI and three external members, kept the repo rate unchanged at 6.50% for a tenth straight policy meeting.