India’s Ex-Finance Minister Says Rates Should Be Lower

India’s former Finance Minister Palaniappan Chidambaram joined his successor in advocating lower interest rates, while stopping short of endorsing the current administration’s budget.

India central bank hikes rate to fight inflation

MUMBAI, India (AP) — India's central bank raised its key interest rate for the second time in two months Tuesday, underlining the determination of its new chief to control inflation despite concerns economic growth could slow further.