India Raises Rates for Eighth Time in a Year to Curb Prices
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India’s central bank increased interest rates for the eighth time in a year after raising its inflation forecast twice in three months. Stocks and bonds fell.
The Reserve Bank of India raised the repurchase rate to 6.75 percent from 6.5 percent, according to an e-mailed statement today. All 26 economists in a Bloomberg News survey had predicted the decision. It boosted the reverse repurchase rate to 5.75 percent from 5.5 percent.