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India raises interest rate to 5.90% to tame inflation

Governor of the Reserve Bank of India Shaktikanta Das arrives for the bi-monthly monetary policy press conference in Mumbai, India, Friday, Sept. 30, 2022. India’s central bank on Friday raised its key interest rate by 50 basis points to 5.90% in its fourth hike this year and said developing economies were facing challenges of slowing growth, elevated food and energy prices, debt distress and currency depreciation. (AP Photo/Rajanish Kakade) Governor of the Reserve Bank of India Shaktikanta Das addresses the bi-monthly monetary policy press conference in Mumbai, India, Friday, Sept. 30, 2022. India’s central bank on Friday raised its key interest rate by 50 basis points to 5.90% in its fourth hike this year and said developing economies were facing challenges of slowing growth, elevated food and energy prices, debt distress and currency depreciation. (AP Photo/Rajanish Kakade) Governor of the Reserve Bank of India Shaktikanta Das addresses the bi-monthly monetary policy press conference in Mumbai, India, Friday, Sept. 30, 2022. India’s central bank on Friday raised its key interest rate by 50 basis points to 5.90% in its fourth hike this year and said developing economies were facing challenges of slowing growth, elevated food and energy prices, debt distress and currency depreciation. (AP Photo/Rajanish Kakade) Governor of the Reserve Bank of India Shaktikanta Das addresses the bi-monthly monetary policy press conference in Mumbai, India, Friday, Sept. 30, 2022. India’s central bank on Friday raised its key interest rate by 50 basis points to 5.90% in its fourth hike this year and said developing economies were facing challenges of slowing growth, elevated food and energy prices, debt distress and currency depreciation. (AP Photo/Rajanish Kakade)
India raises interest rate to 5.90% to tame inflation