India joins global rate-tightening wave with first hike in nearly 4 years
- The Reserve Bank of India’s Monetary Policy Committee began a three-day meeting on October 5, with its repo-rate decision due October 7 amid rising inflation and crude prices.
- A Reuters poll found that 35 of 61 economists expected a 25-basis-point increase, which would lift the repo rate from 5.25% to 5.50%.
- Retail inflation reached 4.82% in August, exceeding the Reserve Bank of India’s 4% target for the third consecutive month.
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137 Articles
(Hanoi=Yonhap News) Correspondent Park Jin-hyung = As economic growth in India remains strong amid rising prices and a weak rupee, the Reserve Bank of India (RBI)... for the first time in 3 years and 8 months
Observador
Noticias ao MinutoGovernor of the Central Bank of India says there are early signs of widespread inflation, which is expected to reach 5.2% this year, due to the disturbances caused by the war in the Middle East.
India joins global rate-tightening wave with first hike in nearly 4 years
India's central bank raised its benchmark repo rate by 25 basis points to 5.5% on Wednesday, marking the first rise in nearly four years amid mounting inflation and strong economic growth.
The Indian central bank is expected to raise its interest rates this Wednesday, for the first time in almost four years. A decision that comes as inflation rises, oil is traded around $100 per barrel and rupee is close to its lowest historical level against the dollar. At the same time, foreign investors are reducing their exposure to Indian assets.
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