Economics
RBI Roils Markets With Surprise India Rate Hike Before Fed
- Reserve Bank of India raises policy rate in out-of-cycle move
- 10-year bond yields surge 30 basis points to most in 3 years
This article is for subscribers only.
Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.
India’s central bank raised its key interest rate and moved to drain liquidity from the banking system in a surprise move Wednesday, sending bonds and stocks crashing, as it intensified the battle against inflation that’s outpaced its expectations this year.