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RBI announces an increase in repo rate

RBI announces an increase in repo rate

on 8 Feb 2023 , Concise by Arpita,

RBI Announced on Wednesday that the Repo Rate will see an Increase of 25 bps. This takes the interest rate to 6.5%. This is the First time in 2023 that a hike is done. Earlier the Repo Rate was 35bps on December 7. Further RBI Revealed that MPC will concentrate on withdrawing an "accommodative stance" since the "situation does not Look so grim now". This Meeting was finished on February 8.

Consumer price inflation is likely to get hover at 5.3% in the FY of 24

Consumer price inflation is likely to get hover at 5.3% in the FY of 24

on 8 Feb 2023 , Concise by Nupursharma,

The Reserve Bank of India (RBI) expected it in the headline as the retail Inflation on an average of 5.3 percent in 2023-24, according to Governor Shaktikanta das claimed on February 8. In his address, while announcing the Monetary policy Committee (MPC) decision for hiking up to the Repo Rate by almost 25 basis points to 6.5 percent, the RBI Governor also claimed it to be the forecast for Consumer Price Index (CPI) Inflation in the current year that 20 basis points had lowered to 6.5 percen

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