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RBI hikes key interest rate to 8%
 
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June 11, 2008 18:57 IST

The Reserve Bank of India [Get Quote] on Wednesday evening increased the repo rate -- the rate at which the central bank's lends short-term money against government securities to banks -- by 25 basis points to 8 per cent.

The move is aimed at controlling runaway inflation. The reverse repo rate, has however, been left untouched.

This is the sixth repo rate hike since June 2006.


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