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Indian shares decline as RBI rate hike signals tighter policy
Indian shares snapped two days of gains on Wednesday after the central bank raised interest rates and shifted its policy stance to “calibrated tightening”, underscoring inflation risks from high oil prices and tighter global monetary policy. The Reserve Bank of India hiked the repo rate by 25 basis points to 5.5%, its first increase since February 2023. The Nifty 50 fell 0.76% to 22,603.05, while the Sensex shed 0.59% to 72,638.7. Both indexes had fallen about 0.7% before the decision. The rupee weakened to a five-month low against the dollar and bond yields rose after the policy announcement....
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