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RBI hikes repo rate by 50 bps to 5.9%

Category : Business and economics
Published on: October 01 2022 Share on facebook

  • 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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