The Reserve Bank of India (RBI) raised the basic interest rate by 35 basis points (PB), to 6.25% per annum, in a monetary policy decision released on Wednesday (7) .
Five of the six members of the institution’s committee voted for the announced adjustment.
The increase coincides with the majority expectations of the financial market, and represents a deceleration in the pace of tightening, after the increases of 50 points determined in the June, August and September meetings.
In October, the Indian consumer price index (CPI, its acronym in English) rose at the annual rate of 6.8%, below the 7.4% advance in the previous month, but still above the target of between 2% and 6 % fixed by RBI.
The monetary authority cut the projection for the growth of the Gross Domestic Product (GDP) of the fiscal year, from 7.0% to 6.8%, and kept the inflation at 6.7%.
Source: CNN Brasil
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