RBI Monetary Policy Committee Highlights: Reserve Bank Of India Raises Rates By 0.35% To 6.25%

RBI Monetary Policy highlights: The RBI cited slowing price pressures for the smaller rate hike after consumer-price-based inflation eased to a three-month low of 6.77 per cent in October from a year ago.

RBI Monetary Policy Committee Highlights: Reserve Bank Of India Raises Rates By 0.35% To 6.25%

RBI Monetary Policy: RBI raised its lending rate by a modest 35 basis points to 6.25 per cent.(File)

New Delhi:

The Reserve Bank of India hiked its key lending rate by a more modest 35 basis points to 6.25 per cent, citing slowing inflation, after three consecutive 50-bps (basis points) increases to manage price pressures that have remained persistently above the upper end of its target band.

Here are the highlights of the Reserve Bank of India's monetary policy committee(MPC) meeting:

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Dec 07, 2022 12:35 (IST)
Worst of inflation behind us but we cannot be complacent, says RBI Governor Shaktikanta Das.
Dec 07, 2022 12:29 (IST)
The Indian rupee should be allowed to find its level, the Reserve Bank of India Governor Shaktikanta Das said today. Read here.
Dec 07, 2022 11:48 (IST)
Home, Auto Loans To Be Expensive After RBI's Rate Hike

RBI raised the lending rate by 35 basis points (bps) - the fifth increase since May - saying it remains focussed on bringing down the inflation to a tolerable limit.

RBI's move to raise the rate will make loans -- including housing, auto -- and corporate credit expensive. Read here.
Dec 07, 2022 11:32 (IST)
RBI Ready To Inject More Cash, If Needed: Shaktikanta Das

RBI is ready to inject additional cash through Liquidity Adjustment Facility (LAF) operations if need arises, Governor Shaktikanta Das said today. Read here.
Dec 07, 2022 11:20 (IST)
RBI marginally lowered the country's GDP growth projection for the current fiscal at 6.8 per cent from its earlier estimate of 7 per cent. Read here.
Dec 07, 2022 11:11 (IST)
Expert View On RBI's Key Policy Decision

Upasna Bhardwaj, Chief Economist, Kotak Mahindra Bank, Mumbai says, "The MPC delivered the 35 bps hike as expected while retaining the stance as 'withdrawal of accommodation.' We continue to expect the focus of MPC to remain in a watchful mode as uncertainties on inflation settle down. We see a possibility of another 25 bps rate hike before a prolonged pause."
Dec 07, 2022 10:43 (IST)
Size of forex reserve comfortable and has gone up from $524 billion (Oct 21) to $551.2 billion as of Dec 2: Mr Das.
Dec 07, 2022 10:39 (IST)
Current account deficit imminently manageable: RBI Governor Shaktikanta Das.
Dec 07, 2022 10:38 (IST)
Movement of rupee remained least disruptive as compared to peers amid strengthening US dollar: Mr Das.
Dec 07, 2022 10:21 (IST)
Liquidity in the banking system remains in surplus, says RBI Governor.
Dec 07, 2022 10:20 (IST)
Core inflation exhibiting stickiness; further caliberated monetary policy action needed, says RBI Governor Shaktikanta Das.
Dec 07, 2022 10:16 (IST)
Central bank's action in line with market expectations, says RBI Governor Shaktikanta Das after 35 bps hike in repo rate.
Dec 07, 2022 10:15 (IST)
Indian economy remains resilient; India is seen as a bright spot in a gloomy world: RBI Governor Shaktikanta Das.
Dec 07, 2022 10:14 (IST)
Globally inflation remains high and broad based in the aftermath of Russia-Ukraine war: RBI Governor Shaktikanta Das.
Dec 07, 2022 10:13 (IST)
RBI Raises Rates By 0.35% To 6.25%, Cites Slowing Inflation

The Reserve Bank of India hiked its key lending rate by a more modest 35 basis points to 6.25 per cent, citing slowing inflation, after three consecutive 50-bps (basis points) increases to manage price pressures that have remained persistently above the upper end of its target band. Read here.
Dec 07, 2022 09:34 (IST)
Monetary Policy Meeting: RBI To Raise Key Lending Rates

The Reserve Bank of India (RBI) is widely seen raising its key lending rate by 35 basis points on today as inflation continues to stay above its tolerance band but markets will be looking to its outlook on growth and prices for direction. Read here.
Dec 07, 2022 08:33 (IST)
35 Basis Points Hike Looks "Imminent" From Reserve Bank's MPC Meet: Report
The Reserve Bank of India is likely to hike rates in smaller magnitude in its policy meeting, said SBI Research in its latest Ecowrap report, adding that it a 35 basis points repo rate hike looks "imminent" and is the "new normal".Read here.
Dec 07, 2022 08:23 (IST)
The World Bank revised upwards its GDP growth forecast for India to 6.9 per cent for 2022-23, saying the economy was showing higher resilience to global shocks.
In its India Development Update, the World Bank said the revision was due to the higher resilience of the Indian economy to global shocks and better-than-expected second-quarter numbers.
Dec 07, 2022 08:20 (IST)
The Indian rupee has fared relatively well in 2022 in comparison to other emerging market peers, senior World Bank economist Dhruv Sharma said on Tuesday after the  World Bank revised India's GDP (gross domestic product) forecast to 6.9 per cent. Read here.
Dec 07, 2022 08:12 (IST)

The central government is on track to meet its fiscal deficit target of 6.4 per cent of the GDP for 2022-23 on the back of strong growth in revenue collections, the World Bank said in its India Development Update on Tuesday.

High nominal GDP growth in the first quarter supported strong growth in revenue collection, especially Goods and Services Tax (GST), despite tax cuts on fuel.Read here.

Dec 07, 2022 08:10 (IST)
The World Bank on Tuesday said it expects inflation to be 7.1 percent in the current fiscal year and added that the decline in commodity prices could dampen inflationary pressures.
India's October inflation dropped to 6.77 per cent, from 7.41 per cent in the preceding month, mainly due to easing prices in the food basket, though it remained above Reserve Bank's comfort level for the 10th month in a row. Read here.

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