INSUBCONTINENT EXCLUSIVE:
The reverse repo rate was also raised by 25 basis points, to 6.25 per cent.The Reserve Bank of India on Wednesday raised interest rates for
the second straight meeting, but retained its "neutral" stance as it aimed to contain inflation while not choking growth
The RBI's Monetary Policy Committee (MPC) raised the repo rate by 25 basis points to 6.50 percent
It is the first time since October 2013 that the rate has been increased at consecutive policy meetings.In June, the MPC also increased the
key rate by 25 bps.The rate action was in line with a Reuters poll last week, which showed 37 of 63 economists expecting a rate
increase."Rising trade protectionism poses a grave risk to near-term and long-term global growth prospects by adversely impacting
investment, disrupting global supply chains and hampering productivity," the MPC warned in its policy statement.Five of the six members on
the rate panel voted for the rate increase.The reverse repo rate was also raised by 25 basis points, to 6.25 percent.India's 10-year
benchmark bond yield briefly rose to 7.84 percent from 7.78 percent before the announcement, but retraced to pre-decision levels.The rupee
Thomson Reuters 2018(Except for the headline, this story has not been edited by TheIndianSubcontinent staff and is published from a
