India Raises Interest Rates For First Time In Four Years
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…