India's new central bank chief orders surprise rate hike

GMT 05:48 2013 Friday ,20 September

Arab Today, arab today India\'s new central bank chief orders surprise rate hike

Arab Today

 India's new central bank governor raised interest rates by 25 basis points on Friday in a surprise move during his first monetary policy review in a bid to reduce inflation. Reserve Bank of India (RBI) chief Raghuram Rajan ordered a rise in the benchmark interest rate from 7.25 to 7.50 percent at its mid-quarter policy review in India's financial centre Mumbai.

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