The move was in line with expectations from economists polled by Reuters, and comes after the Reserve Bank of India delivered an outsized cut of 50 basis points

India's central bank held key interest rates steady on Wednesday as expected, saying the economy remains steady, even though economists expect steep U.S. tariffs on Indian exports and subdued inflation to open room for limited further easing.

India’s central bank held its key interest rate as Donald Trump’s planned increase to tariffs on the country’s exports to the US threatens to send its economy into turmoil.