RBI chief says central bank wants to hike rates in next meetings

NEW DELHI: Reserve Bank of India Governor Shaktikanta Das said the central bank wants to raise interest rates in the “next few” meetings. Expectations of higher rates are “a no brainer,” Das said in an interview on Monday, adding that the RBI will also release a new inflation forecast at its June meeting.

Inflation above the 6% upper range for four straight months prompted the central bank to raise rates in a surprise meet earlier this month. The government of Prime Minister Narendra Modi over the weekend unveiled a fiscal package of tax cuts and subsidies aimed at taming inflation that has risen to an eight-year high.