An internal working group of the Reserve Bank of India has suggested keeping the overnight weighted average call money rate as the operative target of monetary policy, and has recommended a shift to seven-day operations as the main tool.

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 European Central Bank is leaving interest rates unchanged as it waits to see the impact of U.S. President Donald Trump’s tariffs on the economy before deciding whether to cut rates again.