The Reserve Bank of India (RBI) has kept its policy interest rate at 5.25%. At the same time, it is introducing new regulatory and financial rules to attract more foreign investment and keep the national currency stable.

印度儲備銀行（RBI）將政策利率維持在 5.25%。同時，該行正推出新的監管與財務規則，以吸引更多外國投資並維持國家貨幣穩定。

The Monetary Policy Committee (MPC) decided to keep the repo rate unchanged and maintain a neutral position. This decision comes despite a lower growth forecast for 2026-27 (now 6.6%) and a higher inflation prediction of 5.1%. The MPC emphasized that these changes are mainly caused by the long-term conflict in West Asia, which creates risks for the balance between growth and inflation. Although domestic demand remains strong and core inflation is low at 4.7%, the committee asserted that future rate changes will depend on new data due to geopolitical instability and the possibility of a poor monsoon season.

貨幣政策委員會（MPC）決定維持回購利率不變，並採取中立立場。儘管 2026-27 年的增長預測下調至 6.6%，且通膨預測上升至 5.1%，委員會仍做出此決定。MPC 強調，這些變化主因於西亞地區的長期衝突，為增長與通膨之間的平衡帶來風險。雖然國內需求依然強勁，且核心通膨維持在 4.7% 的低位，但委員會主張，由於地緣政治不穩定以及季風季節可能不佳，未來的利率變動將取決於新數據。

Meanwhile, the Indian government is coordinating more closely with monetary authorities to handle currency depreciation and capital pressures. They are using a 'principle of separability,' which means interest rates are used only to control inflation, while other tools are used to manage external challenges. For example, the government has removed certain taxes on government securities (G-Secs) for foreign investors. Furthermore, they have relaxed rules for non-residents, allowing them to invest up to 10% in a single company and 24% in total across listed equities.

同時，印度政府正與貨幣當局更密切地協調，以處理貨幣貶值與資本壓力。他們採用「可分離原則」，意指利率僅用於控制通膨，而其他工具則用於管理外部挑戰。例如，政府已取消外國投資者投資政府證券（G-Secs）的部分稅項。此外，他們放寬了對非居民的規定，允許其在單一公司的投資上限達 10%，且在上市股票的總投資上限可達 24%。

These reforms aim to help India join global bond indices, such as the Bloomberg Emerging Market Index, which would provide a steady flow of foreign capital. While India has significant foreign exchange reserves of $682.321 billion, the government wants to improve the G-Sec market to lower borrowing costs. This strategy differs from countries like Indonesia, where the central bank has used more aggressive interest rate hikes to protect its currency from capital outflows.

這些改革旨在幫助印度加入全球債券指數（如彭博新興市場指數），以提供穩定的外國資本流。儘管印度擁有 6,823.21 億美元的巨額外匯儲備，但政府仍希望改善政府證券市場以降低借貸成本。此策略與印尼等國不同，印尼央行先前採取了更激進的升息手段，以保護貨幣免受資本外流影響。

India continues to show strong growth, with a 7.7% GDP increase in FY26. However, the country is now focusing more on stabilizing its capital accounts and protecting the economy from external supply shocks.

印度持續顯示強勁增長，2026 財政年度 GDP 預計增加 7.7%。然而，該國目前將重心更多地放在穩定資本帳，並保護經濟免受外部供應衝擊。