The Reserve Bank of India decided to raise its key interest rate by a steeper-than-expected 50 basis points on Friday, and to remain focused on the withdrawal of accommodation to bring inflation back to the tolerance band.
The Monetary Policy Committee, led by Governor Shaktikanta Das, unanimously decided to hike its key interest rate, the repo, by 50 basis points to 5.40 percent. Markets had anticipated a 35 basis points hike.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.