India’s central bank holds rates steady for the fifth straight time despite inflation surpassing its 4% target, citing temporary spikes in fuel and food prices while core inflation remains under control. Unlike Japan and South Korea, which are hiking rates, India is watching long-term trends — but analysts warn inflation could stay above 5% for eight months, with potential rate hikes later this year if prices persist. The nation’s fast-growing economy faces mounting risks: global energy shocks, monsoon deficits, and widening trade gaps are all straining the rupee.
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