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India raises interest rate to 5.4%, in 3rd hike since May

Reserve Bank of India (RBI) Governor Shaktikanta Das speaks during a press conference at the RBI headquarters in Mumbai, India, Friday, Aug. 5, 2022. India's central bank on Wednesday raised its key interest rate by 50 basis points to 5.4% in its third such hike since May as it focuses on containing inflation. (AP Photo) A vegetable vendor sits at a wholesale market in Mumbai, India, Friday, Aug. 5, 2022.India’s central bank on Wednesday raised its key interest rate by 50 basis points to 5.4% in its third such hike since May as it focuses on containing inflation. (AP Photo/Rajanish kakade) A vegetable vendor sits at a wholesale market in Mumbai, India, Friday, Aug. 5, 2022.India’s central bank on Wednesday raised its key interest rate by 50 basis points to 5.4% in its third such hike since May as it focuses on containing inflation. (AP Photo/Rajanish kakade) People shop at a wholesale market in Mumbai, India, Friday, Aug. 5, 2022.India’s central bank on Wednesday raised its key interest rate by 50 basis points to 5.4% in its third such hike since May as it focuses on containing inflation. (AP Photo/Rajanish kakade) Workers sort out vegetables at a wholesale market in Mumbai, India, Friday, Aug. 5, 2022.India’s central bank on Wednesday raised its key interest rate by 50 basis points to 5.4% in its third such hike since May as it focuses on containing inflation. (AP Photo/Rajanish kakade) FILE - Construction workers prepare a scaffolding at a construction site at Hajji Ali in Mumbai, India, on Jan. 8, 2022. India’s central bank on Wednesday, Aug. 3, raised its key interest rate by 50 basis points to 5.4% in its third such hike since May as it focuses on containing inflation. (AP Photo/Rajanish kakade, File)
India raises interest rate to 5.4%, in 3rd hike since May