India Inflation Above ‘Comfort Level,’ RBI Says Before Rate Move

India’s inflation rate remains above “comfort level” even after five interest-rate increases this year, the central bank said, signaling the need for higher borrowing costs before its monetary policy decision today.

“Inflation pressures persist and further moderation would be necessary for easing the concerns for the conduct of monetary policy,” the Reserve Bank of India said in a report yesterday. “Inflation still remains above the comfort level.”