India Lifts Rate By 50 Bps To Tame Inflation

The Reserve Bank of India decided to raise its key interest rate by a steeper-than-expected 50 basis points on Friday, and to remain focused on the withdrawal of accommodation to bring inflation back to the tolerance band. The Monetary Policy Committee, led by Governor Shaktikanta Das, unanimously decided to hike its key interest rate, the repo, by 50 basis points to 5.40 percent.