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The Reserve Bank of India (RBI) raised interest rates for the 12th time in 18 months and surprised markets by sticking with its anti-inflationary stance even as growth slows in Asia's third-largest economy and policymakers elsewhere focus on reviving flagging demand.
The RBI raised its policy lending rate, the repo rate, by 25 basis points to 8.25 percent, in line with expectations, as it persisted in a fight to curb inflation that has thus far mostly proven futile
Inflation for August rose to 9.78 percent, its highest in more than a year. Growth and demand, however, have cooled following the cumulative impact of earlier rate increases and rising prices.
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The Reserve Bank of India (RBI) raised interest rates for the 12th time in 18 months and surprised markets by sticking with its anti-inflationary stance even as growth slows in Asia's third-largest economy and policymakers elsewhere focus on reviving flagging demand.The RBI raised its policy lending rate, the repo rate, by 25 basis points to 8.25 percent, in line with expectations, as it persisted in a fight to curb inflation that has thus far mostly proven futile
Inflation for August rose to 9.78 percent, its highest in more than a year. Growth and demand, however, have cooled following the cumulative impact of earlier rate increases and rising prices.
Fill The Free Trial on Right Side of Blog to get Daily Market Updates on Mobile
