Asia - Voice of America: India Holds Interest Rates Steady Amid Slow Growth

Asia - Voice of America asia

India Holds Interest Rates Steady Amid Slow Growth Jun 18th 2012, 15:45 India's central bank kept interest rates unchanged Monday in a bid to curb inflation, despite pressure to cut rates to spur lagging economic growth. The Reserve Bank kept the rate at 8 percent, and the cash reserve rate for banks at 4.75 percent. The bank said a further rate cut could make inflation worse. It cited several factors in the economic slowdown, particularly in investment, but said that the role of interest rates is "relatively small." The bank had been ... Media files: 0A5022BD-B179-4A60-81B3-CD2C55EFBC63_cx10_cy0_cw90_w800_r1.jpg (image/jpeg, 0 MB)

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