国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Global Biz

India unexpectedly hikes rates a quarter point

(Agencies)
Updated: 2010-03-20 21:29
Large Medium Small

MUMBAI, India?- India's central bank has unexpectedly hiked key interest rates a quarter of a percentage point, as the bank tries to cool high inflation amid a faster-than-expected economic rebound.

The bank raised the benchmark repo rate?-- at which the central bank makes short-term loans to commercial banks?-- to 5 percent and raised the reverse repurchase rate?-- the rate at which it borrows from commercial banks?-- to 3.5 percent, with immediate effect.

"These measures should anchor inflationary expectations and contain inflation going forward," the Reserve Bank of India said in a statement after trading hours Friday. "As liquidity in the banking system will remain adequate, credit expansion for sustaining the recovery will not be affected."

Related readings:
India unexpectedly hikes rates a quarter point China underscores good-neighbor ties with India
India unexpectedly hikes rates a quarter point India needs?better decision making system against terrorists
India unexpectedly hikes rates a quarter point India posed to adopt women empowerment bill
India unexpectedly hikes rates a quarter point India growth may surpass 8% this year

Most economists had expected a rate hike, but not until the bank's scheduled policy meeting on April 20.

The bank said robust growth in manufacturing, a revival of investment, expanding exports and increasing bank credit gave it confidence that economic growth is consolidating.

Inflation, however, has become a growing concern. Headline Wholesale Price Index inflation for February was 9.9 percent, higher than the bank expected, and inflation is spreading from drought-induced high food prices into other sectors of the economy, like manufactured goods.

"With rising demand side pressures, there is risk that WPI inflation may cross double digits in March 2010," the bank said.

This is the bank's first rate hike since it began implementing aggressive monetary stimulus measures in the wake of the global financial crisis.

Beginning in September 2008, the Reserve Bank cut the benchmark repo rate from 9 percent to 4.75 percent, and slashed the reverse repurchase rate from 6 percent to 3.25 percent. It also cut the cash reserve ratio?-- the amount of cash banks must keep on hand?-- by 4 percentage points.

The bank began to unwind that stimulus in January, by raising cash reserve requirements three-quarters of a percentage point, to 5.75 percent.

咸阳市| 游戏| 金门县| 根河市| 鲁甸县| 云霄县| 时尚| 钟山县| 陵川县| 鲁山县| 石柱| 舞钢市| 隆子县| 扎赉特旗| 澄迈县| 墨江| 松江区| 吴川市| 丹凤县| 鄂托克前旗| 红河县| 探索| 临海市| 禹州市| 璧山县| 汉中市| 南和县| 彰武县| 长泰县| 临邑县| 荆门市| 蒙山县| 绵竹市| 色达县| 册亨县| 班玛县| 玛曲县| 堆龙德庆县| 图木舒克市| 云林县| 丰原市|