RBI MPC Meeting June 2022 LIVE
: Governor Shaktikanta Das announced today that the central bank has raised its key rates by 50 basis points to 4.90%. The MPC vote was unanimous and decided to keep an accommodating withdrawal position. The MPC was expected to announce a hike in the repo rate – the key rate at which the RBI lends money to commercial banks – in today’s statement. This is the first policy review since the RBI’s surprise announcement of a 40 basis point hike in the key rate on 4 May. It comes at a time when the world’s major central banks face the Herculean task of reining in decades-high inflation without causing an economic downturn.
First post: STI
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