India's central bank raises repo rate by 50 bps to control inflation

MUMBAI, Aug. 5 (Xinhua) -- India's Central Bank on Friday raised the repo rate by 50 bps (basis points) to 5.4 percent, slightly above market expectation of 25-35 bps.

The repo rate, raised for the third consecutive time at the three-day monetary policy meeting (MPC) on Friday, is now back to pre-pandemic levels and the highest since August 2019 in a bid to keep the surging inflation under control.

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