RBI Monetary Policy : On expected lines the Reserve Bank of India (RBI) raised repo rate for a third time since May as Governor Shaktikanta Das and the MPC team continue attempts to slay sticky inflation.
RBI hiked rates by 50 bps, making rates the highest since August 2019 bring them back to pre-covid levels of 5.4%. Alluding to the sharp appreciation of US Dollar and tightening global flows Governor Das continued to keep his outlook very cautious.
RBI monetary policy preview : What to expect from rates
In fact the RBI retained their growth outlook and also maintained its policy stance is retained at 'Withdrawal of Accommodation'.