India's central bank on Friday (Aug 5) hiked interest rates for a third-consecutive time, as Asia's third-largest economy contends with a widening trade deficit and weakening currency.
The Reserve Bank of India's rate-setting committee raised its key lending rate by 50 basis points to 5.40 percent – a level last seen in August 2019 – three months after kicking off a monetary tightening cycle in May.
(Compiled)
