India: Key Rates Hiked 50 bp in a Surprise Move

July 26th, 2011
in econ_news

India flag Econintersect:  The RBI (Reserve Bank of India), in a surprise move, has hiked key policy rates, reverse and reverse repo, by 50 basis points each.  It was generally accepted that a 25 bp increase was coming, as reported by The Economic Times just one hour before the announcement.  The new rates have the repo rate at 8% and the reverse repo at 7%. The cash reserve ratio (CRR) remains unchanged at 6%.

Follow up:

The following rate history table is from CNBC News:

India-Rate-History

Sources:  CNBC News and The Economic Times

Hat tip to Sanjeev Kulkarni.















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