| Indian reserve bank hikes two interest rates by 25 basic points |
| Date: 2010/7/7 Click: 2129 |
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The Reserve Bank of India, the country's central bank, Friday hiked two short-term interest rates by 25 basic points "as a part of the calibrated exit from the expansionary monetary policy", a bank statement said.
The repo rate under the Liquidity Adjustment Facility (LAF) will be increased from 5.25 percent to 5.50 percent with immediate effect while the reverse repo rate from 3.75 percent to 4.0 percent, the statement said, adding that the latest measures were taken as "recovery is strengthening" at the global level. |
