UK interest rate hike: Economists expect the bank to boost its key rate by at least three-quarters of a percentage point, to 3%, after consumer price inflation returned to a 40-year high in September.
Unveiling the fifth monetary policy for this fiscal, RBI Governor Shaktikanta Das said the central bank remains committed to price stability to put the country on a sustained path of growth.
ECB followed the US Federal Reserve and other central banks in a global stampede of rapid rate hikes meant to snuff out record inflation that is squeezing consumers and pushing Europe toward recession.
RBI rate hike: In a report, the Germany-based bank said the RBI will respond with a slower pace of rate hikes from here, basing the expectation on the recently released minutes of the last meeting of the Monetary Policy Committee (MPC).
The rate hike comes ahead of the RBI's Monetary Policy Committee (MPC) meeting later this week. It is widely expected that the MPC would hike interest rates to tame high inflation.
HDFC hikes lending rate: This is the fifth hike effected by HDFC in two months. In all, the rate has increased by 115 basis points since May this year.
While the United Kingdom's central bank began raising interest rates earlier than its counterparts, the Bank of England is now trailing the US Federal Reserve in the worldwide fight against inflation fuelled by soaring food and energy prices.
RBI's decision to raise the interest rate is aimed at doubling down the fight to contain inflation that has surged in the last couple of months.
The Reserve Bank of India in a surprise move on Wednesday (May 4) announced to hike the repo rate by 40 basis points to 4.40 per cent, the first hike since August 2018.
The 30-share BSE benchmark Sensex had jumped 897.77 points or 1.61 per cent to 56,566.80 during the day. But it pared most of the gains and closed just 33.20 points or 0.06 per cent higher at 55,702.23. Similarly, the NSE Nifty inched up 5.05 points or 0.03 per cent to 16,682.65.
Washington: The Federal Reserve, America's central bank, has decided not to raise interest rates in June, but signalled that the long-awaited rate hike could come in September as the economic activity picks up."The committee expects
Mumbai: The state-run Bombay Suburban Electricity and Transport (BEST) hinted at an increase in its electricity tariff today, for its low-end residential customers, to recover the loss it would suffer for losing its high-end consumers
Mumbai: RBI Governor Raghuram Rajan went against the majority view in the bank's technical advisory committee (TAC) while announcing a surprise 0.25 per cent hike in key rates in the January 28 policy review, as
Mumbai: The benchmark S&P BSE Sensex dropped almost 167 points to a three-week low today after RBI Governor Raghuram Rajan's comments on inflation raised concerns about interest rates.Banking and realty sector stocks, which are sensitive
Mumbai, Oct 24: With inflation remaining high, the Reserve Bank today indicated that it may go for another round of interest rate hike tomorrow even though the step may impact the economic growth."Inflation risk...persists. The
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