Monday, August 8, 2022
News

RBI raises repo rate by 50 bps to cool inflation, 3rd hike in row

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Mumbai (Maharashtra) | August 5, 2022 10:57:36 AM IST
The monetary policy committee of the Reserve Bank of India has raised the repo rate by 50 basis points to 5.40 per cent in order to contain the persistently high inflation.

Raising interest typically suppress demand in the economy, thereby helping inflation to decline.

The three-day monetary policy committee meeting commenced on Wednesday.

Today's hike takes the repo rate above pre-pandemic levels of 5.15 per cent.

In line with the global trend of monetary policy tightening to cool off inflation, the RBI has so far hiked the key repo rates -- the rate at which the central bank of a country lends money to commercial banks -- by 140 basis points. (ANI)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
SpiceJet passengers walk on Delhi Airpor...
Difficult to 'blink it': Zomato says sti...
India's forex reserves rises after four ...
Another tariff hike likely by telecom op...
India's new Akasa Air commences operatio...
Monetary policy over, stock investors' f...
More...
 
INDIA WORLD ASIA
NASA's Perseverance rover grabs 12th roc...
Assam: Assistant Sub-Inspector caught ta...
PM Modi asks states to promote '3Ts' aro...
'Huge financial losses to exchequer': Re...
PM Modi working tirelessly to ensure eve...
Over 1.5 lakh flights kicked off under U...
More...    
 
 Top Stories
CWG 2022: Nikhat Zareen leads India... 
TN Police seize 400-year-old idol, ... 
Investors bracing for another stret... 
Oliwia keeps 9/9 winning scores as ... 
Delhi excise policy: Dry days reduc... 
Kingpin of gang blackmailing people... 
Assam: Assistant Sub-Inspector caug... 
India defeat West Indies by 88 runs...