On Friday, RBI increased the repo rate by 50 basis points taking the key repo rate to 5.9%; here is why it should matter to you
RBI Policy: Shaktikanta Das announced the RBI MPC's decision to hike the repo rate by 50 basis points to 5.9% and slash the GDP forecast for FY23 to 7% from 7.2% earlier
Currency closes at 81.85/$, 9 p higher than previous close
With the RBI MPC expected to announce its decision on Friday, we explain how inflation, repo rate and demand are linked to each other
If this happens, it will be the 10th straight quarter of status quo; govt official says Centre did not cut rates when policy rates were being cut during pandemic
CLOSING BELL: Among sectors, the Nifty Metal, and PSU Bank indices dipped 2 per cent each, while the Nifty Pharma index gained 0.6 per cent
Costlier EMIs and the limited ability of banks to transmit the rate hikes to customers may lead to the real estate sector becoming among the worst impacted sectors
This hike is par for the course - not to fight inflation alone but also to stem currency depreciation
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Many expect the RBI to lower the GDP growth estimate to 7%
Headline retail inflation was at 6.71% in July; it was the first time in four months that the price gauge printed below 7%
'Monetary and fiscal policies have to work in tandem; importing Russian oil part of inflation management'
The finance minister said if India and the United States joined efforts in growing their respective economies, they might be the engines of global growth within the next two decades
Says country will the milestone assumed in the Budget despite the tense geopolitical situation
Sequence of policy measures is expected to anchor inflation expectations, said Das
At the MPC's estimate of 16.2%, the economy would have grown 6.1% over the corresponding quarter of 2019-20
Industrial output remains robust
Forecasts of economic doom are premature and central bank-bashing is misplaced
The interest rate hike comes after the Reserve Bank of India's (RBI's) six-member monetary policy committee (MPC) raised the benchmark repo rate by another 50 bps to 5.40 per cent last week
Most banks have revised their external benchmark linked loan rates by 50 bps