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

The Reserve Bank of India (RBI) kept its key repo rate steady at 5.50% on Wednesday, in line with expectations, as policymakers waited to see the impact of recent rate cuts and assessed risks from higher-than-expected U.

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.