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26 July 2006 India raised interest rates by 0.25% The Reserve Bank of India on Tuesday raised key interest rates by 25 basis points as a pre-emptive move to curb economic overheating. According to the Bank, the attention was drawn to signs of domestic demand pressures, especially evident in continuing high credit growth, which it said could cause inflation expectations to rise. Inflation is estimated to be 5-5.5% and gross domestic product growth is forecast to reach 8.4% this year.
Economic Research Unit |
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