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The Reserve Bank of India (RBI) raised its key interest rate by 25 basis points to 5.50%, the first hike since 2023, to curb inflation.
The Reserve Bank of India (RBI) on Wednesday raised its benchmark repo rate by 25 basis points to 5.50%, a one-year high, in line with economists' expectations in a Reuters poll. The move aims to curb retail inflation, which has risen for 10 consecutive months, reaching 4.8% in August, above the RBI's medium-term target of 4%. HSBC and Goldman Sachs expect the RBI to continue raising rates in December.
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