India hikes again as food price inflation catches on


The recent surge in inflation underpinned the Reserve Bank of India's (RBI) Tuesday decision to hike both the benchmark reverse repurchase rate and the repurchase rate by a quarter percentage point each.

The hike, at its last policy meeting for this fiscal year, followed a surprise inter-meeting decision in April, which saw identical 25 basis point increments levied to the two rates. On Tuesday, the central bank also raised the cash reserve ratio by 25 basis points, to 6%, a move that it said

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