Indian interest rates unchanged

India's central bank has kept interest rates on hold at 7.75%, disappointing those who were hoping for a cut.

Economists said that rising food and fuel prices were more worrying for the Reserve Bank of India (RBI) than the impact of the sub-prime crisis.

Indian interest rates rose five times between June 2006 and last March and have been on hold since then.

Some economists thought a cut likely, particularly after the US Federal Reserve slashed rates last week.


http://news.bbc.co.uk/2/hi/business/7214758.stm