Posted Sep 30, 2022, 4:18 PMUpdated on Sep 30, 2022 at 4:31 PM
India continues to tighten its monetary policy. The Central Bank of India (RBI) announced on Friday to raise its main rate by fifty basis points, which now stands at 5.90%. This monetary tightening – the fourth since May – brings the total increase in the Indian rate this year to almost two points.
Asia’s third-largest economy, which had rebounded strongly after the Covid pandemic with one of the highest growth rates in the world, is now coming up against the deterioration in the global economy.
