India, Oct. 7 -- India's central bank hiked interest rates for the first time in nearly four years and shifted the policy stance to "calibrated tightening", suggesting that policymakers have embarked on a rate-hiking cycle as the economy navigates a myriad of worries including surging oil prices, poor monsoon, weaker rupee and the geopolitical tensions worldwide.
"The global context on account of geopolitical developments remains challenging," the Reserve Bank of India Governor Sanjay Malhotra said on Thursday as the rate-setting body led by him decided unanimously to raise the repo rate by 25 basis points to 5.50 percent. The widely expected move was the first such since February 2023.
For comments and feedback contact: editorial@rttnews...