India’s central bank is widely expected to raise its benchmark rate for the seventh consecutive meeting and leave the door open for more increases to bring inflation back within its target range, economists said.
MUMBAI – India’s central bank is widely expected to raise its benchmark rate on Thursday for the seventh consecutive meeting and leave the door open for more increases to bring inflation back within its target range, economists said.
Unseasonal rains could keep food prices high and a surprise decision by OPEC and its allies to cut output recently has also pushed up oil prices which could add to imported inflation. A few economists, however, said that signs of turmoil in the U.S. and European banking sector could lead to tighter financial conditions and a steeper global slowdown. Early signs of a slowdown in India are also visible in easing imports and plateauing bank credit demand.
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