India raises interest rate to 5.90% to tame inflation

6 days ago

NEW DELHI (AP) — India’s central bank on Friday raised its key interest rate by 50 basis points to 5.90% in its fourth hike this year and said developing economies were facing challenges of slowing growth, elevated food and energy prices, debt distress and currency depreciation. Reserve Bank of India Governor Shaktikanta Das projected inflation at 6.7% in the current fiscal