Mumbai, India, Oct 7, 2026 (AFP) - Indian central bank hikes rates for first time since 2023

NAMPA / AFP

2026-10-07

India's central bank hiked interest rates Wednesday for the first time since 2023 as the Middle East conflict stokes inflation in Asia's third-largest economy and batters a weakened rupee. The Reserve Bank of India (RBI) said the benchmark repurchase rate, the level at which it lends to commercial banks, would be raised by 25 basis points to 5.50 percent after a unanimous vote by a six-member panel. In doing so, the RBI shifted gears to join seve......

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