the Reserve Bank of India [RBI] surprised markets with a 25 basis-point rise in its main policy rate but unwound some short-term tightening measures.
The Bank changed its main policy rate to 7.5% from 7.25% in an attempt to curb inflation which reached a six-month high of 6.1% earlier this week.
"Bringing down inflation to more tolerable levels warrants raising the repo rate by 25 basis points immediately," RBI President Raghuram Rajan said.
Source: Livecharts
The Bank changed its main policy rate to 7.5% from 7.25% in an attempt to curb inflation which reached a six-month high of 6.1% earlier this week.
"Bringing down inflation to more tolerable levels warrants raising the repo rate by 25 basis points immediately," RBI President Raghuram Rajan said.
Source: Livecharts
