India’s central bank again hikes rates on ‘bleak’ global outlook ...Qatar

India’s central bank said a “bleak” global outlook warranted its fourth rate hike in five months yesterday, as Asia’s third-largest economy struggles under the weight of chronically high inflation and a falling currency. The Reserve Bank of India (RBI) raised its key lending rate by 50 basis points to 5.90%, marking a total increase of nearly two percentage points since it kicked off a monetary tightening cycle in May. The country bounced back strongly from the coronavirus pandemic but is now grappling with the same headwinds buffeting the global economy. “The global economic outlook continues to be bleak,” RBI governor Shaktikanta Das said in a televised address. Aggressive rate hikes and

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India’s central bank again hikes rates on ‘bleak’ global outlook ...Qatar

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