Reserve Bank of India (RBI) raises repo rate by 25bp to 8%, keeps CRR unchanged.
The Reserve Bank of India (RBI) unexpectedly raised its policy interest rate on January 28, 2014 by 25 basis points but said that if consumer price inflation eases as projected it does not foresee further near-term tightening.
The RBI raised its policy repo rate by 25 basis points to 8 per cent. Most economists in a Reuters poll conducted last week had expected no change in rates.
RBI, however, kept the CRR unchanged at 4%.