India's central bank has raised interest rates for the 13th time since March of 2010, in another attempt to curb the country's high inflation.

The Reserve Bank of India on Tuesday raised its short-term lending rate, or repo rate , by 25 basis points, to 8.50 percent.

RBI Governor Duvvuri Subbarao said he expected inflationary pressures to ease, making the likelihood of another interest rate hike in December “relatively low.”

Inflation in India has topped 9 percent for nearly a year, driven in part by the high cost of fuel and food.

Analysts say the interest rate hikes have slowed economic growth in India, as other Asian economies reduce rates in order to encourage growth.

The Reserve Bank of India said Tuesday that inflation will likely fall to 7 percent by the end of March.

The central bank also cut its gross domestic product projection from 8 percent to 7.6 percent for the current fiscal year, which

ends in March.