India central bank leaves rates unchanged

India's central bank, the Reserve Bank of India (RBI), has left its key interest rate unchanged at 8% in a surprise move.

Most analysts and observers had forecast the bank would drop the cost of borrowing to at 7.75% or lower.

There had been growing pressure on the RBI to cut rates amid a slowdown in India's economy.

India's economy grew at an annual rate of 5.3% between January and March, its slowest pace in nine years.

Source & Image : BBC