#rbi #rbigovernor #economy #indianeconomy #shaktikantadas #reporate
The Reserve Bank of India (RBI) today hiked the policy repo rate - for a fifth consecutive time - by 35 basis points to 6.25%. The key interest rate has been hiked a total of 190 basis points - by 50 basis points thrice since June and once - by 40 basis points - during an off-cycle meet in May. The central bank increased the rate after inflation continues to stay above its tolerance band.
Governor Shaktikanta Das, delivering the Monetary Policy Committee (MPC) announcements, also said the FY23 real GDP forecast had been lowered to 6.8% - 0.1% lower than revised estimates released Tuesday by the World Bank. In addition, the RBI has also maintained the FY23 consumer price index (CPI) inflation forecast at 6.7% and Das said he expects inflation to moderate as the winter harvest comes in. RBI Governor illustrates monetary policy review key takeaways here. He said, "the battle against inflation is not over because there is no room for complacency. But, let me reiterate again, the worst of inflation is behind us. So, overall, I would say that the Indian economy is resilient." Watch here -

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