First time in 4 years that the repo rate was increased?...


Reserve bank of india (RBI) governor Shaktikanta Das on monday indicated another hike in the policy rate in the monetary policy review in early june to curb rising inflation. Retail inflation has remained above the central bank's satisfactory level for the past four months. Let us tell you that earlier this month, without any prior notice, the policy rates were increased by 0.40 percent. RBI had increased the repo rate after four years.


Interest rates will increase

Talking to a media, Das said that there is a possibility of an increase in the policy rate, there is not much to think about it. But how much this increase will be, I am not in a position to say anything. To say that it will increase to 5.15 per cent is probably not very accurate. The next meeting of the Monetary Policy Committee (MPC) will be held on june 6-8. It is noteworthy that the RBI increased the repo rate by 0.4 percent earlier this month without any fixed schedule. This was the first time in four years that the repo rate was increased.


Inflation and GDP estimates

In its monetary policy review in April, the central bank raised the inflation forecast for the current fiscal to 5.7 per cent from 4.5 per cent, citing rising global tensions due to the Russia-Ukraine war. It also reduced the GDP (Gross Domestic Product) estimate for 2022-23 from 7.8 percent to 7.2 percent. Das said that the Reserve bank and the government have started taking new coordinated steps to bring inflation under control.


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