India hikes interest rates to pre-pandemic levels


The Reserve Bank of India raises its key lending rate to 5.4% – a level last seen in August 2019. – EPA pic, August 5, 2022.

INDIA’S central bank today hiked interest rates for a third consecutive time, as it contends with a widening trade deficit and weakening currency.

Asia’s third-largest economy raised its key lending rate to 5.4% – a level last seen in August 2019 – three months after kicking off a monetary tightening cycle in May.


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