India's central bank governor Raghuram Rajan on Tuesday kept the repo rate unchanged at 6.50% at his final policy review after inflation hit a nearly two-year high, but said the policy stance remains "accommodative."
The decision had been widely expected after consumer inflation accelerated to 5.77% in June, near the top of the Reserve Bank of India's 2%-6% range, and above its target of 5% by March next year.
The much admired former International Monetary Fund chief economist is due to step down on Sept 4 after a three-year term to return to academia and family living in the United States.
The government has still to pick a successor.
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The decision had been widely expected after consumer inflation accelerated to 5.77% in June, near the top of the Reserve Bank of India's 2%-6% range, and above its target of 5% by March next year.
The much admired former International Monetary Fund chief economist is due to step down on Sept 4 after a three-year term to return to academia and family living in the United States.
The government has still to pick a successor.
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