India’s central bank will likely keep interest rates unchanged on Friday, with traders focused on liquidity boosting measures after a surprise slump in economic growth.

The repo rate, which determines borrowing costs across the economy, has been held steady at 6.5% for nine consecutive meetings.

Though most analysts expect the RBI's rate-setting panel to keep the key repo rate unchanged, the RBI governor faces a challenge to keep inflation under check and slightly provide liquidity stimulus to growth.