India's central bank leaves its benchmark rates unchanged (lending at 8.5%, borrowing at 7.5%),...

|By:, SA News Editor

India's central bank leaves its benchmark rates unchanged (lending at 8.5%, borrowing at 7.5%), pausing a string of hikes aimed at tackling inflation. Signaling its policy shift, RBI says "the global economic outlook has worsened significantly," so "from this point on, monetary policy actions are likely to reverse the cycle, responding to the risks to growth."