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India central bank raises key rate to 5.4% to cool inflation

After 50-basis-point hike, governor warns of risks from sustained price pressure

The Reserve Bank of India is striving to control inflation with a series of rate hikes.   © Reuters

NEW DELHI -- The Reserve Bank of India on Friday raised its benchmark repo rate by 50 basis points to 5.4%, the third hike since May, as the central bank attempts to rein in inflation.

RBI Gov. Shaktikanta Das said the monetary policy committee's decision was unanimous.

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