The Reserve Bank of India (RBI) kept its key repo rate steady at 5.50% on Wednesday, in line with expectations, as policymakers waited to see the impact of recent rate cuts and assessed risks from higher-than-expected U.

The move was in line with expectations from economists polled by Reuters, and comes after the Reserve Bank of India delivered an outsized cut of 50 basis points

The Reserve Bank of India’s monetary policy committee on Wednesday unanimously voted to maintain its policy repo rate at 5.50% and its monetary policy stance at neutral.