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Euronews
Euronews
Quirino Mealha

India hikes interest rates for first time in over three years as Iran war fuels inflation

India Inflation Iran the Reserve Bank of India RBI United States

India's central bank has switched to tightening, delivering a quarter-percentage-point increase as the fallout from the Iran war lifts prices and drags on the national currency.

The Reserve Bank of India (RBI) lifted its benchmark repo rate, the rate it charges commercial banks for loans, by 25 basis points to 5.50%, with all six members of its monetary policy committee voting in favour.

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