The Reserve Bank of India lifted its benchmark rate for the fourth straight session, in a bid to combat high inflation and the decline in the rupee to a record low as the emerging markets encounter spillover effects from the policy normalization in advanced economies.
The Monetary Policy Committee voted 5-1 to hike its key interest rate, the repo, by 50 basis points to 5.90 percent from 5.40 percent with immediate effect, Governor Shaktikanta Das said on Friday. One policymaker sought an increase of 35 basis points. The repo rate has been raised by a cumulative 190 basis points since May.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.