RBI Hikes Key Lending Rate By 50 Basis Points To 4.90%: Highlights

Reserve Bank of India (RBI) on Wednesday raised the key policy rate by 50 basis points (bps) to 4.90 per cent in its June bi-monthly meeting.

RBI Hikes Key Lending Rate By 50 Basis Points To 4.90%: Highlights

RBI may hike the policy repo rate by 40 basis points.

New Delhi:

Reserve Bank of India (RBI) on Wednesday raised the key policy (repo) rate by 50 basis points (bps) to 4.90 per cent in its June bi-monthly meeting. The central bank is likely to concentrate interest rate hikes over the coming months in a relatively short tightening cycle. In a recent interview, RBI Governor Shaktikanta Das said that the expectation of rate hikes in June is a "no-brainer".

Here are the highlights from RBI policy meet:

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Jun 08, 2022 16:01 (IST)
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Our future action will depend on evolving situation, as it has remained dynamic: RBI chief
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RBI raises inflation forecast to 6.7 per cent for 2022-23 from an earlier estimate of 5.7 per cent
Jun 08, 2022 10:26 (IST)
Upside risk to inflation persists; a recent spike in tomato, crude prices fuelling inflation: RBI chief
Jun 08, 2022 10:24 (IST)
GDP growth is retained at 7.2 per cent for the current fiscal (2022-23): RBI Governor
Jun 08, 2022 10:21 (IST)
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Jun 08, 2022 10:13 (IST)
Our steps will be calibrated, focussed on bringing down inflation to target level: RBI chief
Jun 08, 2022 10:11 (IST)
GDP (Gross Domestic Product) growth estimated at 8.7% in 2021-22: RBI Governor
Jun 08, 2022 10:09 (IST)
SDF (Standing Deposit Facility) adjusted to 4.65 per cent
Jun 08, 2022 10:07 (IST)
RBI hikes key lending rate by 50 basis points to 4.90 per cent
Jun 08, 2022 10:04 (IST)
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Retail inflation surged to an eight-year high of 7.79 per cent in April. It has been above 6 per cent since January 2022.
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Inflation has been above the RBI's 2-6 per cent target band since the beginning of this year.
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The six-member Monetary Policy Committee (MPC) of RBI is certain to hike the policy interest rates as inflation has remained above the central bank's tolerance limit for the past several months.
Jun 08, 2022 08:16 (IST)
RBI is likely to hike the policy repo rate by 40 basis points to 4.80 per cent today increase the inflation forecast for the current fiscal to above 6 per cent from its earlier projection of 5.7 per cent, according to market analysts and economists. Repo rate is the interest rate at which the RBI lends short-term funds to banks.
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