Image Source : FILE RBI hikes interest rate by 25 BPS to 6.5%
The Reserve Bank of India, on Wednesday, announced to hike the interest rate by 25 BPS to 6.5%, citing sluggish core inflation. The hike in the repo rate is also set to further increase home, car loans and EMIs.
The RBI has increased interest rates six times since May 2022, for a total increase of 250 basis points.
RBI Governor Shaktikanta Das, who also announced the bi-monthly monetary policy, said that the Monetary Policy Committee (MPC) unanimously resolved to hike the policy repo rate by 25 basis points and keep a “strong surveillance” on the inflation outlook
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