India’s central bank hikes a key rate in a surprise move ...Middle East

Quartz - Economy

The Reserve Bank of India (RBI) today raised the repo rate by 40 basis points to 4.40 per cent. The repo rate is the one at which the central bank lends money to the country’s commercial banks.This abrupt move is now likely to increase the cost of borrowing.The announcement today by RBI governor Shaktikanta Das came much earlier than the next monetary policy, which was due only on June 4. It follows a long period of stable interest rates it had maintained over the past many months despite rising inflation beginning to worry many stakeholders in the country’s economy.Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.

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Last updated : 04 May 2022 clock 12:16 PM

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India’s central bank hikes a key rate in a surprise move ...Middle East

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