Rising Oil Portends Long Pause as India Nears Rate Review
- Inflation quickens to 7-month high as crude prices surge
- Central Bank due to review borrowing costs over Dec. 5-6
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The Indian central bank’s hawkish inflation forecasts may finally be coming true.
After long undershooting its predictions, data on Monday showed consumer prices rose the most in seven months. The pace may only accelerate due to rebounding global oil prices, dashing any hopes of an interest-rate cut as the Reserve Bank of India seeks to burnish its inflation-fighting credentials.