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The Reserve Bank of India will raise the repurchase rate by
25 basis points, or 0.25 percentage point, to 8.25 percent,
according to 12 of 13 economists in a Bloomberg survey. The
fixed cost to receive the overnight money-market rate for a year
has dropped 39 basis points this quarter to 7.67 percent.
Similar gauges rose 77 basis points in Russia and 19 basis
points in China. The measure slid 155 basis points in Brazil,
where the central bank trimmed rates last month.
* India, the world’s third-largest iron-ore exporter, should
increase the tax on overseas sales of the raw material to 30
percent to curb shipments and boost local supplies, Steel
Minister Beni Prasad Verma said yesterday.
* Directors for Air India Ltd., the money-losing carrier getting
jet fuel on credit, will meet today to discuss delivery and
operations plans for its Boeing Co. 787 Dreamliners, two people
familiar with the matter said.