ANI
05 Aug 2022, 15:18 GMT+10
Mumbai (Maharashtra) [India], August 5 (ANI): The monetary policy committee of the Reserve Bank of India has raised the repo rate by 50 basis points to 5.40 per cent in order to contain the persistently high inflation.
Raising interest typically suppress demand in the economy, thereby helping inflation to decline.
The three-day monetary policy committee meeting commenced on Wednesday.
Today's hike takes the repo rate above pre-pandemic levels of 5.15 per cent.
In line with the global trend of monetary policy tightening to cool off inflation, the RBI has so far hiked the key repo rates -- the rate at which the central bank of a country lends money to commercial banks -- by 140 basis points. (ANI)
Get a daily dose of Greek Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Greek Herald.
More InformationBANGKOK, Thailand: Instant noodle makers have asked Thailand to allow them to increase their prices to meet rising costs, which ...
JEDDAH, Saudi Arabia: In a Twitter post published this week, Saudi Arabia's Kingdom Holding said it had invested in Russian ...
DELHI, India: Dubbed the country's Warren Buffett, India's best-known stock investor and self-made billionaire, Rakesh Jhunjhunwala, died on August 14 ...
SAO PAULO, Brazil: Brazil's central bank chief Roberto Campos Neto has said that he believes credit cards will cease to ...
LONDON, England: Despite a recent rebound, speculators in the international copper market, considered an indicator of the world's economic health, ...
MOSCOW, Russia: Financial information released by the Rosstat federal statistics service this week indicated that Russia's economy shrank 4 percent ...
WELLINGTON, New Zealand: During his visit to New Zealand, Ambassador Sujiro Seam, Head of the Delegation of the European Union ...
TALLINN, Estonia: The leaders of Estonia and Finland have said that Russian citizens should not be able to go on ...
WARSAW, Poland: Toughening its rhetoric in its rule-of-law row with the European Union, Poland's national-conservative government threatened to turn "all ...
Beijing [China], August 18 (ANI): Furthering Beijing into irrelevance, Estonia and Latvia have both pulled out of China's diplomatic and ...
This autumn's Brazilian presidential election offers a glimpse of how 21st century populist leaders are using religion to enthuse their ...
algiers, algeria - Wildfires raging in the forests of eastern Algeria have killed at least 37 people and wounded 161 ...