RBI raises repo rate by 50 bps to cool inflation, 3rd hike in row
Agencies8/5/2022

MUMBAI: 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.

 




Subscribe to Jammu Links News Video Channel
for daily headlines wrap up, interview and other
exclusive video features.

From The Author


Related Articles
More From This Section
World
­Sundar Pichai says Google has too many employees but too few work, issues warning
MUMBAI
RBI raises repo rate by 50 bps to cool inflation, 3rd hike in row
MUMBAI
Jio completes 5G coverage planning in top 1,000 cities
More From This Author
NEW DELHI
Gurumukhi is not a language, rather a script for Punjabi language: MoS Nityanand Rai
NEW DELHI
SpiceJet clears all dues with AAI, reverts to normal operations
NEW DELHI
Another Nigerian man tests positive for monkeypox, third case in Delhi