monetarypolicycommittee
By Mohammed Kudrati The Reserve Bank of India [RBI] today kept its benchmark policy repo rate unchanged at 6.5% for the second time, after it first announced a pause on its rates in its April statement. The pause in April came after six bi-monthly rate hikes since May 2022. There was unanimous voting for the move at the bi-monthly meeting by the six-member Monetary Policy Committee on the back of easing retail inflation, which hit an 18-month low. The consumer price inflation (CPI) has eased to 4.7% in April. However, Governor Shaktikanta Das said that headline inflation remains above the tole...
BOOM Live
By Mohammed Kudrati The Governor of the Reserve Bank of India (RBI) - Shaktikanta Das on Wednesday announced that the central bank was hiking the policy repo rate by 35 basis points, or 0.35 percentage point, to 6.25% in a sign of slowing interest rate hikes. But the RBI has not put an end date to rate hikes, stating that it was not ruling out further monetary policy intervention to get inflation under control and to sustain growth. Officially, during the pandemic, the RBI had adopted an 'accommodative' stance. The governor said that the RBI was moving towards withdrawal of accommodation to ke...
BOOM Live
By Mohammed Kudrati The Reserve Bank of India [RBI] today hiked the policy repo rate by 50 basis points, from 4.40% to 4.90%. This is the second hike in the policy repo rate in just more than a month, with the previous hike of 40 basis points coming in an unscheduled move in May. With this hike, the repo rate is now up 90 basis points from the 4% mark that it was 36 days ago. RBI also hiked the cash reserve ratio (CRR) in the previous announcement. The repo rate is the rate at which banks borrow from the RBI on a short-term basis. Also Read:RBI Hikes Repo Rate, Cash Reserve Ratio In Unschedule...
BOOM Live
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