MUMBAI -- India's central bank shifted its stance from a hawkish "withdrawal of accommodation" to "neutral" on Wednesday, raising expectations of a rate cut now that inflation is under control and following an unexpectedly sharp 50 basis point rate cut by the U.S. Federal Reserve last month.
The Reserve Bank of India's monetary policy committee on Wednesday ended a three-day meeting, deciding unanimously to change the bank's stance to neutral, Gov. Shaktikanta Das said. It held its key interest rate at 6.5% with one of the six committee members voting against holding the rates.
