Don't assume that next rate move will be upwards: Rajan

Actions taken by the Reserve Bank of India (RBI) should be helpful at this point while future action will depend on data, its chief Raghuram Rajan said at a media conference on Tuesday, adding that one should not assume that the next rate move will be upwards.

India's central bank earlier in the day raised interest rates for the second time in as many months, warning that inflation is likely to remain elevated despite sluggish growth, and rolled back an emergency measure put in place in July to support the rupee.