‘Rate cuts off the table’: Why RBI hiked repo rate by 25 basis points but also raised GDP growth forecast to 7.1%
The MPC observed that geopolitical developments continue to make the global environment difficult. RBI governor Sanjay Malhotra announced the Monetary Policy Committee’s (MPC) decision to hike repo rate by 25 basis points on Wednesday. Repo rate is the rate at which RBI lends money to banks and it now stands at 5.50%. The rate hike…

