The Reserve Bank of India (RBI) on Wednesday hiked repo rate the while retaining a neutral policy stance in its bi-monthly monetary policy review as it aims to strike a balance between rising inflationary pressures and still recovering growth. The six-member monetary policy committee (MPC) of the RBI increased the repo rate by 25 basis points to 6.50 percent and the reverse repo by 25 basis points to 6.25 percent. Five of the six members on the rate panel voted for a rate increase.
The Reserve Bank of India (RBI) on Wednesday hiked repo rate the while retaining a neutral policy stance in its bi-monthly monetary policy review as it aims to strike a balance between rising inflationary pressures and still recovering growth. The six-member monetary policy committee (MPC) of the RBI increased the repo rate by 25 basis points to 6.50 percent and the reverse repo by 25 basis points to 6.25 percent. Five of the six members on the rate panel voted for a rate increase.
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