RBI hikes, saying inflation set to climb
The Reserve Bank of India (RBI) on Tuesday lifted its benchmark repurchase and reverse repurchase rates by a quarter percentage point each on the back of concern that inflation is set to deviate substantially from its baseline projection.
The hikes, which see the repo rate now set at 6.25% and the reverse repo at 5.5%, came as inflation rose in December, hitting 8.43% according to figures published by the Indian finance ministry, a rise of 0.95% from November. The central bank put the increase
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