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India hikes interest rates by 25 basis points
MUMBAI: India 's central bank on Thursday raised its key short-term interest rates by 25 basis points its 10th hike in
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MUMBAI: India's central bank on Thursday raised its key short-term interest rates by 25 basis points its 10th hike in 16 months in a bid to tame stubbornly high inflation.
The Reserve Bank of India raised its repo the rate at which it lends to commercial banks to 7.50 percent and increased its reverse repo the rate it pays to banks for deposits to 6.50 percent.
Copyright AFP (Agence France-Presse), 2011
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