India Central Bank Hikes Rates for First Time Since 2023
India's central bank has raised interest rates for the first time in over three years. The monetary policy committee voted unanimously to increase its benchmark rate.
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India's central bank has raised interest rates for the first time in over three years. The monetary policy committee voted unanimously to increase its benchmark rate.
Most emerging Asian stock markets slipped on Wednesday, led by declines in Singapore and South Korea, as higher oil prices and US Treasury yields near multi-year highs weighed on investor sentiment. Crude climbed back above $100 a barrel as a storm heading for North American oil-producing regions and Houthi attacks on
HSBC and Goldman Sachs expect the RBI to raise interest rates in December as well.
The Reserve Bank of India (RBI) is expected to raise interest rates this week for the first time since February 2023, driven by a shift in the global rate environment and rising inflation risks, signaling a move towards monetary tightening by the Monetary Policy Committee (MPC).
Invesco’s Vikas Garg cites wider spreads over government bonds as short-term corporate yields rise on pricing for RBI hikes.
Indian government bonds are expected to decline on Thursday after the U.S. Federal Reserve hiked rates for the first time since July 2023, raising pressure for the RBI to follow as it tackles rising inflation.