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India’s Central Bank Calls Aggressive Monetary Policy a Shock to Global Economy
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wsj.comIndia’s central bank raised its key interest rate by half a percentage point, as efforts to rein in inflation and protect an economic recovery have been complicated by its currency’s decline against the U.S. dollar.
On Friday, the Reserve Bank of India raised its overnight lending rate to 5.90% from 5.40%, the fourth increase since it began raising rates following an unscheduled meeting in May, prompted by global inflationary pressures exacerbated by Russia’s invasion of Ukraine.
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