RBI hikes interest rates for first time in 2023

The Indian central bank raised interest rates for the first time since 2023 in an effort to curb rising inflation risks, increasing the repo rate by 25 basis points to 5.50%. This decision comes amid rising annual retail inflation, which reached 4.8% in August, surpassing the permitted target of 4%. Despite strong economic growth of 7.8% in the last quarter, the Indian economy faces risks related to supply disruptions and bad weather, with forecasts indicating a slowdown to 7.1% in 2027. Financial institutions expect the central bank to raise rates again in December, though there are warnings that the tightening of monetary policy may be limited and could affect the attractiveness of investment in India.

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