We probably haven’t seen the last of the rate hikes
- The problem is that core inflation continues to remain high. Core inflation has been higher than 6% in seven of the eight months from March to October. Governor Das did acknowledge the stickiness of core inflation. He also said that retail inflation is expected to stay above the RBI’s target of 4%
The monetary policy committee (MPC) of the Reserve Bank of India (RBI) has raised the repo rate, or the interest rate at which it lends to banks, by 35 basis points to 6.25%. One basis point is 0.01%.
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