220413 The trend of rising inflation is expected to continue, increasing the burden on consumers in India, seen here shopping in New Delhi in April. Inflation in India will likely continue to trend above 6% for the rest of this year despite this week's surprise rate hike, senior economist at Kotak Mahindra Bank, Upasana Bhardwaj, told CNBC on Thursday. The Reserve Bank of India on Wednesday surprised markets by raising the key borrowing rate for the first time in nearly four years. The central bank raised the so-called repo rate — the rate at which the RBI lends to commercial banks — by 40 basis points to 4.4% from a record low of 4%. The monetary policy committee said it will "remain accommodative while focusing on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth." Bhardwaj predicted that inflation won't ease despite anticipated further rat . . . read the full article here.
Keywords: economist, bank, rest, points, rate, despite, hike, inflation, basis, surprise, india, likely, persist, hikes, indias, trend, high
DATE: week, April, Thursday, Wednesday, this year, the months ahead, nearly four years, the calendar year, the past three quarters, the next two to three months
PERCENT: 4%, 6%, 4.4%
CARDINAL: 40, 75, 100, an additional 25
WORK_OF_ART: Street Signs Asia