The Central Bank of India announced the interest rate hike 50 basis points

Author:Global Times Time:2022.08.05

India's Governor of India announced on August 5 local time that the benchmark interest rate increased by 50 basis points to 5.4%.This brings India's benchmark interest rate to its highest level since 2019.Since May, the Bank of India has raised the benchmark interest rate by 1.40%.This is the third time the Indian central bank has raised the benchmark interest rate for several months.

The consumer price index in India in June was 7.01%.Since January 2022, the retail inflation rate has been higher than the 6%comfort level set by the Central Bank of India.

Source: CCTV News Client

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