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.

President Trump vowed Monday to “substantially” jack up the US tariff on imports from India due to New Delhi’s continued purchase of Russian oil as Moscow’s invasion of Ukraine grinds

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. The Reserve Bank of India ’s decision to keep the repo rate at 5.