BENGALURU (Reuters) -Indian shares were largely unchanged on Wednesday, after the country’s central bank hiked key interest rate, as expected, amid expectations that inflation has likely peaked.
The Nifty 50 index was up 0.02% at 18,646.65, as of 10:05 a.m IST, and the S&P BSE Sensex rose 0.08% to 62,678.57.
The Reserve Bank of India raised the key policy repo rate by 35 basis points, inline with economists’ expectations, and said overall monetary and liquidity conditions remain accommodative.
Retail inflation in Asia’s third-largest economy had eased to a three-month low of 6.77% in October, strengthening bets on smaller rate increases by the RBI going ahead.
(Reporting by Rama Venkat and Bharath Rajeswaran in Bengaluru; Editing by Nivedita Bhattacharjee and Eileen Soreng)
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Source: The Print
