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The Reserve Bank of India raises its benchmark rate 25 basis points to 8.25%, the 12th hike in a...

The Reserve Bank of India raises its benchmark rate 25 basis points to 8.25%, the 12th hike in a cycle that began in March 2010. The move contrasts with recent surprise cuts by Brazil, Turkey, and Russia. "A premature change in the policy stance could harden inflationary expectations, thereby diluting the impact of past policy actions," says the RBI.
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