BENGALURU: The Reserve Bank of India's key interest rate was raised by 50 basis points on Wednesday as widely expected, the second hike in as many months, in a bid to cool persistently high inflation in Asia's third-largest economy.
The central bank also dropped the long-standing phrase that future policy would remain 'accommodative', reinforcing expectations of further rate hikes and other forms of tightening in coming months as fighting inflation becomes its main focus.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
