RBI Policy: repo rate hiked by 40 basis points to 4.40 per cent
Below are the highlights of RBI Policy. Shaktikanta Das headed the Monetary Policy Committee (MPC) meeting:
- Reserve Bank of India has hiked the repo rate by 40 basis points, taking it to 4.40 per cent.
- Monetary Policy Committee at its meeting decided to increase the policy repo rate under the Liquidity Adjustment Facility by 40 basis points to 4.40 per cent with immediate effect.
- Cash reserve ratio hiked by 50 bps to 4.5% effective May 21
- Interest rate hike is aimed at strengthening, consolidating medium-term economic growth prospects
- Foreign exchange reserves remain high at over USD 600 billion and debt-to-GDP ratio is low
- Raise in fertilizer prices and other input costs have direct impact on food prices in India
Published date : 05 May 2022 05:04PM