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Market Update: India Holds Rates as Expected
The Reserve Bank of India kept its benchmark repo rate at 4 percent during its August meeting, as widely expected, saying it was maintaining an accommodative monetary policy stance as long as necessary to support the economic recovery and to help mitigate the negative impact of COVID-19. The bank also left the reverse repo rate, the borrowing rate, unchanged at 3.35 percent. source: Reserve Bank of India [/s2If]
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