RBI hikes at unscheduled monetary policy meeting


The Reserve Bank of India hiked its policy rate at an unscheduled meeting today (May 4), joining a growing movement of central banks that are implementing tighter policy.

Governor Shaktikanta Das said the additional meeting reflected the central bank’s concern that “second-round effects” could begin to set in. High commodity prices are feeding a rise in inflation expectations worldwide, and the RBI hopes that hikes will prevent expectations becoming unmoored.

Today’s 40 basis point hike brings

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