- Prior 4.50%
- Bank rate vote 8-1 vs 7-2 expected (Dhingra voted to cut bank rate by 25 bps)
- There has been substantial progress on disinflation
- That progress allowed for gradual withdrawal of policy restraint while maintaining restrictiveness
- Global trade policy uncertainty has intensified since last policy meeting
- Other geopolitical uncertainties have also increased and indicators of financial market volatility have risen globally
- Statement details to follow..
This article was written by Justin Low at www.forexlive.com.
