RBI hikes repo rate by 50 bps to 5.9%

Category : Business and economics Published on: October 01 2022

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The Reserve Bank of India (RBI) has hiked the repo rate by 50 basis points to 5.90%, the fourth straight increase in the current cycle, to tame the sustained above-target retail inflation rate.
The RBI has raised the repo rate by 190 basis points since May.
In August, the RBI MPC increased the repo rate by 50 bps to 5.4 per cent from 4.9 per cent in June.
Repo Rate: It is the interest rate at which the central bank of a country lends money to commercial banks.

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