On Thursday (April 6), after six consecutive interest rate hikes, the Reserve Bank of India on Thursday left the key repo rate unchanged, with the consensus expectation of a 25 basis point increase.

In March the Bank of Canada made good on its promise to put rates on hold; On Tuesday, the Reserve Bank of Australia became the second central bank to pause its year-long campaign to raise interest rates. Since April 2022, the RBA has raised interest rates 10 times, a total of 350 basis points.

Yesterday, the Reserve Bank of India became the third central bank to unexpectedly pause interest rate rises.