India’s Central Bank Opts for Modest 35-Basis-Point Hike in Policy Rate

[Epoch-Times-Bot]

India's Central Bank Opts for Modest 35-Basis-Point Hike in Policy Rate

The Reserve Bank of India (RBI) on Wednesday increased its policy repo rate by 35 basis points to 6.25 percent, the fifth consecutive increase this year, signaling a moderate pace in monetary tightening.
The RBI also increased its standing deposit facility rate and the marginal standing facility rate to 6 percent and 6.5 percent, respectively.
RBI Governor Shaktikanta Das said the monetary policy committee (MPC) has decided to remain focused on the “withdrawal of accommodation,” given that the overall monetary and liquidation conditions remain accommodative.
India’s consumer price inflation moderated to 6.8 percent year-over-year in October. However, Das said that inflation remains elevated as the figure remains above the upper tolerance band of the target....

Source: India's Central Bank Opts for Modest 35-Basis-Point Hike in Policy Rate

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