RBI hikes Repo rate by 25 basis points to 5.50%

Rate hike after nearly three-and-a half years.

STC NEWS DESK
SRINAGAR, OCTOBER 07 (STC): The Reserve Bank of India announced its bi-monthly monetary policy today and its monetary policy committee (MPC) has unanimously decided to increase the repo rate by 25 basis points, from 5.25% to 5.50%.
The key rate hike comes after nearly three-and-a half years amid the continuing West Asia conflict.
The real GDP growth for FY27 is projected at 7.1%, while CPI inflation is now projected at 5.2%, Reserve Bank Governor Sanjay Malhotra said after the conclusion of the three-day meeting of the Monetary Policy Committee.
The policy stance has been revised to ‘calibrated tightening’ from ‘neutral, he said.
(Straight Talk Communications)