Indian central bank hikes key interest rate
Arab Today
India's new central bank governor hiked the key interest rate Tuesday for a second month running, disregarding calls for lower borrowing costs as he remains focused on battling high inflation. After a meeting in the financial capital Mumbai, the Reserve Bank of India (RBI) said the benchmark repo rate, at which it lends to commercial banks, would be hiked by 25 basis points to 7.75 percent.
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