Reserve Bank of India likely to hike interest rates today
RBI is expected to hike interest rates on Friday for the 12th time since March 2010, as it opts to fight spiralling inflation despite a slowdown in the economy.
Economists forecast that policymakers at the Reserve Bank of India (RBI) would raise short-terminterest rates by 25 basis points when they announce a decision in Mumbai today.
Economists forecast that policymakers at the Reserve Bank of India (RBI) would raise short-terminterest rates by 25 basis points when they announce a decision in Mumbai today.
The benchmark repurchase or repo rate, at which the RBI lends to commercial banks, is currently at 8.0%, its highest level in nearly three years, while the reverse repo - paid to banks for deposits - is at an over-a-decade high of 7.0%.
Another interest rate rise is seen as almost inevitable after inflation in August came in at 9.78% - a 13-month peak, the highest for any large economy, and almost double the RBI's comfort for more details....http://www.indiareport.com/India-usa-uk-news/latest-news/1086208/Business/4/30/4
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