Repo rate hiked by 50 bps to 5.40%

Friday, 5 August 2022Newsdesk

RBI MPC Monetary Policy Review Announcement Live Updates: The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Friday hiked the repo rate by 50 basis points (bps) to 5.40 per cent with immediate effect, RBI Governor Shaktikanta Das announced.

New Delhi, 05 August 2022

As per news report of The Indian Express, this is the third rate hike by the central bank in this financial year. Prior to this, the RBI had raised the repo rate – by 40 bps in an off-cycle meeting in May and 50 bps in June. The market experts expected the MPC to raise the repo rate by at least 35 basis points (bps) in this meeting.

Source - The Indian Express