Asia EM Express: RBI on hold in April, China manufacturing PMI little changed

The Reserve Bank of India (RBI) held its monetary policy meeting on Tuesday and decided to keep the repurchase rate on hold at 8.00%, as widely expected. The central bank's wait-and-see stance was supported by the recent sharp drop in annual inflation from 11% in November last year to 8% in February, considerably below RBI's projections.
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