India Raises Interest Rates For First Time In Four Years

Channels Television  
Updated June 6, 2018
India’s Prime Minister Narendra Modi. Money SHARMA / AFP

 

India’s central bank raised interest rates for the first time in over four years Wednesday, citing concerns over a spike in inflation.

The Reserve Bank of India (RBI) said the benchmark repo rate — the level at which it lends to commercial banks — would be increased by 25 basis points to 6.25 percent.

The rate was last hiked in January 2014.

More to follow…