India central bank raises key repo by 40 bps in off-cycle move

2022.05.04 11:56

FILE PHOTO: The Reserve Bank of India (RBI) Governor Shaktikanta Das attends a news conference after a monetary policy review in Mumbai, India, April 8, 2022. REUTERS/Francis Mascarenhas

MUMBAI (Reuters) – The Reserve Bank of India’s monetary policy committee raised the key lending rate by 40 basis points on Wednesday, citing persistent inflationary pressures in the economy, governor Shaktikanta Das announced.

The MPC raised the key lending rate or the repo rate by 40 basis points to 4.40%, Das said.

Source