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RBI holds repo rate as Iran war upends economic outlook

MUMBAI, April 8 (Reuters) – The RBI (Reserve Bank of India) kept its key policy rate unchanged on Wednesday as it awaits clearer evidence of the impact from ​the Iran war on the South Asian nation’s economy. While risks to growth and inflation ‌have risen due to the Middle East crisis, the rate panel chose to “wait and watch”, RBI Governor Sanjay Malhotra said while announcing the policy decision. The RBI’s six-member monetary policy committee voted to keep the repo rate steady at 5.25%. All six members of the ​rate panel, which includes three central bank officials and three external

How Trump went from threatening Iran’s annihilation to agreeing to a two-week ceasefire with Tehran

WASHINGTON, April 8, 2026 (AP) — President Donald Trump over the course of a day went from threatening Iran with “annihilation” to proclaiming that the battered Islamic Republic’s leadership had presented a “workable” plan that led him to agree to a 14-day ceasefire that he expects to pave the way to end the nearly six-week-old war. The dramatic shift in tenor came as intermediaries, led by Pakistan, worked feverishly to head off a further escalation of the conflict. Even China — Iran’s biggest trading partner and the United States’ most significant economic competitor — quietly pulled strings to find a

Russia and China veto watered-down UN resolution aimed at reopening the Strait of Hormuz

UNITED NATIONS, April 8, 2026 (AP) — Russia and China on Tuesday vetoed a U.N. Security Council resolution aimed at reopening the Strait of Hormuz that had been repeatedly watered down in hopes those two countries would abstain. The vote — 11-2, with two abstentions from Pakistan and Colombia — took place shortly after U.S. President Donald Trump issued an unprecedented threat that a “whole civilization will die tonight” if Iran does not open the strategic waterway and make a deal. But late Tuesday, less than two hours before the deadline he set, Trump pulled back his threat. Trump said

Rupee surges 50 paise to 92.56 against USD in early trade after US, Iran agree to 2-week ceasefire

Mumbai, Apr 8 (PTI) The rupee appreciated 50 paise to 92.56 against the US dollar in early trade on Wednesday after US President Donald Trump announced suspension of military strikes against Iran for two weeks. Forex traders said the two-week ceasefire announcement triggered a wave of outsized bargain buying amongst the risk assets as Asian Stocks, Dow futures, Gold and Silver all rallied while Brent Oil fell below USD 100 to USD 96 per barrel. The rupee in accordance surged to 92.56 levels, with the RBI deadline still in place till the 10th of April (regarding squaring of positions taken

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