India joins global rate-tightening wave with first hike in nearly 4 years
- The Reserve Bank of India raised its policy repo rate by 25 basis points to 5.5%, the first increase since February 2023.
- The Monetary Policy Committee unanimously approved the rate increase and shifted its stance to “calibrated tightening” by a 4-2 vote.
- Governor Sanjay Malhotra said the decision reflected a worsening inflation outlook and global risks, including renewed conflict in West Asia and volatile crude prices.
- The RBI expects headline consumer inflation to average nearly 5.8% over the next three quarters, while higher rates could increase borrowing costs.
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(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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