India's Central Bank Raises Rates for First Time in Nearly Four Years, Signals Possible Further Tightening
Deep News
Yesterday
India's central bank has raised interest rates for the first time in almost four years, joining other Asian central banks in tightening monetary policy as inflation accelerates and the currency weakens.
The Reserve Bank of India's monetary policy committee voted unanimously to raise the benchmark rate by 25 basis points to 5.5%, in line with the predictions of most economists surveyed by Bloomberg.
This marks the first rate hike since Sanjay Malhotra took office as governor in December 2024.
The central bank shifted its monetary policy stance from "neutral" to "calibrated tightening," signaling the possibility of further rate increases in the future.
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