INDIA RAISES RATES YET GETS SET TO HOLD

INDIA’S central bank raised interest rates yesterday for the 13th time since early 2010 but gave a strong signal it may be finished with its current tightening cycle as growth slows and it expects high inflation to ease from December. The Reserve Bank of India raised its policy lending rate, the repo rate, by 25 basis points to 8.5 per cent. It also revised down its growth forecast for the current fiscal year ending in March to 7.6 per cent from eight per cent.