RBI Repo Rate Hiked: Inflation has peaked and is expected to soften — but there are a range of global challenges to negotiate. Monetary policy has to, therefore, act, Governor Shaktikanta Das said.
With an eye on inflation amid the prevailing global uncertainties, the Reserve Bank of India (RBI) announced a 50 basis point hike in the repo rates — the rate at which RBI lends to commercial banks — thereby taking the cumulative rate hike over the last three months to 140 basis points. Here is why RBI has continued with its aggressive stance, and the impact it could have on borrowers.
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