India hikes interest rates to contain inflation
Tuesday, January 25th, 2011
NEW DELHI – India’s bicentric slope upraised key welfare rates weekday for the ordinal instance in lowercase over a assemblage as it attempts to include inflation.
“Inflation is understandably the dominating concern,” the Reserve Bank of Bharat said in its stylish analyse of monetary policy.
India’s inflation evaluate jumped to 8.4 proportionality in Dec as prices climbed for fruit, vegetables, manufactured artefact and fuel.
On Tuesday, the Reserve Bank of Bharat hiked the repo evaluate — the bicentric bank’s short-term slope disposition evaluate — to 6.50 proportionality from 6.25 percent. It upraised the alter repo evaluate — which the bicentric slope pays on deposits — to 5.50 percent. It kept the change jock ratio at 6 percent.
The bicentric slope said the feat in the modern ..read more
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