BANK NEWS
RBI MPC: Repo Rate reaches 4.90 %, up by 50 basis points
The MPC also decided to remain focused on the withdrawal of accommodation to ensure that inflation remains within the target going forward while supporting growth.
Reserve Bank of India (RBI) Governor Shaktikanta Das
New Delhi: The Monetary Policy Committee of the Reserve Bank of India, which met from June 6 to 8, 2022, has unanimously decided to hike the Repo Rate by 50 basis points to 4.90 %.
Consequently, Standing Deposit Facility Rate stands adjusted to 4.65% and the Marginal Standing Facility rate and Bank Rate to 5.15%
The MPC also decided to remain focused on the withdrawal of accommodation to ensure that inflation remains within the target going forward while supporting growth.
It is observed that the global economy continues to grapple with multi-decadal high inflation and slowing growth, persisting geopolitical tensions and sanctions, elevated prices of crude oil and other commodities, and lingering COVID-19 related supply chain bottlenecks.
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