India lifts interest rates, says further near-term hike unlikely
MUMBAI Jan 28 (Reuters) - The Reserve Bank of India unexpectedly raised its policy interest rate on Tuesday by 25 basis points but said that if consumer price inflation eases as projected it does not foresee further near-term tightening.
The RBI raised its policy repo rate by 25 basis points to 8.00 percent. Most economists in a Reuters poll conducted last week had expected no change in rates.
However, expectations for a rate hike had increased after a central bank panel proposed to make the consumer price index the main inflation benchmark. (Reporting by Tony Munroe and Suvashree Dey Choudhury; Editing by Jacqueline Wong)
- Exclusive: Radar data suggests missing Malaysia plane deliberately flown way off course - sources
- Lost passenger jet was diverted deliberately: Malaysian PM |
- Malaysia PM says lost plane's movements indicate a deliberate act
- UPDATE 2-Satellite data shows missing Malaysia plane may have flown thousands of miles-source
- UPDATE 1-Rolls-Royce concurs with Malaysia on missing jet's engine data