India’s RBI delivers half-point hike to rein in inflation

India’s RBI delivers half-point hike to rein in inflation

2 months ago

INDIA’S central bank completed a hat-trick of half-point interest-rate hikes Friday to anchor inflation expectations, and prevent second-round effects from damping demand in the economy.

The benchmark repurchase rate was raised by 50 basis points to 5.90%, Reserve Bank of India Governor Shaktikanta Das said after the six-member monetary policy committee’s 5-1 decision. The move was seen by 34 of 46 economists in a Bloomberg survey, with 11 calling for 35 basis points and one for a quarter-point increment.

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