MUMBAI: The RBI's surprise rate hike on Wednesday suggests that the central bank wants to act quickly before inflation derails the growth recovery, experts said.
In a move that will raise borrowing costs for corporate and individuals, the RBI after an unscheduled MPC meeting hiked the benchmark lending rate by 40 basis points (bps) to 4.40 per cent to contain inflation that has remained stubbornly above the target of 6 per cent for the last three months.
