Indian Central Bank Hikes Rates for First Time in More than 3 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.
105 Articles
105 Articles
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.
The Reserve Bank of India (RBI) has raised interest rates for the first time since 2023, raising the repo rate, the key interest rate, by 25 basis points to 5.50 percent, a one-year high, CNBC reports. The move is aimed at curbing increasingly stubborn inflation, while the Indian economy continues to expand at a remarkable pace.
The central bank responded to inflationary pressures with a rise of 25 basis points, the first since 2023
India Economy: RBI Raises Repo Rate to 5.50% After 3.5 Years, Loans and EMIs May Get Costlier
<p class="PDq2pG_selectionAnchorContainer" dir="auto" data-start="157" data-end="575">The Reserve Bank of India has delivered a major decision on interest rates, raising the repo rate by 25 basis points to 5.50%. This marks the first repo rate hike since February 2023, after a gap of nearly three and a half years. The decision could have a direct impact on borrowing costs, with home loans, car loans, education loans and other bank-linked credit …
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