indias central bank increased its policy rate in a bid to contain high inflation reserve bank of india gov shaktikanta das said wednesday that the monetarypolicy committee decided to raise its policy repo rate by 35 basis points to 625 five of the seven economists surveyed by the wall street journal expected the indian central bank to raise the policy rate by 35 basis points while the other two projected a 25basispoint increase indias consumerprice index rose 68 in october from a year earlier after a 74 increase in september compared with the central banks inflation target of 2 to 6 after years of policy stimulus central banks around the world have been raising rates this year to contain a surge in inflation caused by the russiaukraine war and the recovery from the covid19 pandemic the rbi raised its policy rate by 40 basis points at an offcycle meeting in may its first rate increase in nearly four years and followed with a 50basispoint increase each in june august and september