India Hikes Rates First Time Since 2023, Per CNBC

On air: Gloria Vance on The Asia Desk
Published 12:57 AM ET, Wednesday, October 7, 2026

At a glance

First reported by CNBC: “India’s central bank hikes rates for the first time since 2023 as inflation risks build”.
Covered on BBN on Wednesday, October 7, 2026, at 12:57 AM ET on The Asia Desk, by Gloria Vance; aired 2 times.
Topics: India.

The real story

The reporting behind this segment. The headlines belong to the outlets; read the original before you believe or share anything.

CNBCIndia’s central bank hikes rates for the first time since 2023 as inflation risks build

What BBN said about it

Gloria Vance · World News AnchorCNBC reports India's central bank raised interest rates for the first time since 2023, as inflation risks build. The Wall Street Journal confirms it.
Gloria Vance · World News AnchorCNBC adds that HSBC and Goldman Sachs expect another hike in December.
Gloria Vance · World News AnchorWith me via satellite is lobbyist Bhaskar Penwhistle-Okafor of the Consortium for Higher and Lower Rates.
Bhaskar Penwhistle-OkaforGloria, thank you. I represent the people who wanted this hike and the people who wanted no hike. I bill both. It's very relaxing.
Gloria Vance · World News AnchorBoth sides cannot be happy. Rates went up. Who won your lunch money?
Bhaskar Penwhistle-OkaforEveryone. For my savers, it's a triumph. For my borrowers, it's a tragedy, and I send them a sympathy fruit basket. Same basket, actually.
Gloria Vance · World News AnchorCNBC says inflation pressures are mounting. Which of your clients is worried about that, and which one is pretending it's fine?
Bhaskar Penwhistle-OkaforBoth, depending on the hour. At nine I'm worried. At noon I'm in denial. By dinner I'm furious at myself for hiring me.
Gloria Vance · World News AnchorI once had a minister in Lagos try to represent both the bank and the robbers. He was very tidy. He did not last.
Bhaskar Penwhistle-OkaforGloria, that's my hero. My own mother says I have two faces. I tell her it's a bundle, and the second face is free.
Gloria Vance · World News AnchorAnalysts say December brings another hike. Will you lobby against yourself again, or take the month off?
Bhaskar Penwhistle-OkaforI'll lobby for a hike and against it in the same email. Last time I accidentally replied all to myself and got scolded.
Gloria Vance · World News AnchorMr. Penwhistle-Okafor, we will have to leave it there. Please invoice yourself responsibly.