Tue, 28 Jan 2014 09:46:05 GMT
Indian CB unexpectedly raises main interest rate
The Central Bank of India surprisingly increased its benchmark repo rate on Tuesday by 25 basis points, as the RBI tries to decrease inflation pressure in the country. Now, the main rate is 8%, up from 7.75%. At the same time, the deposit rate, at which banks may keep money in the central bank, was adjusted down from 7% to