An internal working group of the Reserve Bank of India has recommended keeping the call money rate as the operative target of monetary policy, the central bank governor said on Wednesday. The group has also recommended conducting variable rate liquidity operations of various tenors to maintain the weighted average interbank call money rate around the policy rate,

Uncertainties surrounding U.S. trade policy continue to cast a shadow over the Indian economy’s outlook.

India’s central bank held its key interest rate as Donald Trump’s planned increase in tariffs on the country’s exports to the US threatens to send its economy into turmoil. The Reserve Bank of India ’s decision on Wednesday to keep the repo rate at 5.