India: Central bank raises interest rate

Source: ABC News

“India’s central bank on Wednesday raised its key interest rate to 4.4% from 4% to try to contain fast-rising inflation. Reserve Bank of India Governor Shaktikanta Das said after an unscheduled meeting of the bank’s monetary policy committee that the central bank would maintain an ‘accommodative’ stance to help support the economy while keeping inflation in check. India’s consumer price index surged to 7% in March from 6.1% in February, largely reflecting higher costs for imports of coal, oil and food. Das mentioned global shortages of wheat and edible oil as factors.” (05/04/22)