The Reserve Bank of India's key policy repo rate was raised by 50 basis points on Friday, the third increase in as many months to cool stubbornly high inflation. With June retail inflation at 7 per cent, economists polled by Reuters had expected another rate hike, but views were widely split between a 25 bps move or a 50 bps increase. The monetary policy committee (MPC) raised the key lending rate or the repo rate to 5.40 per cent, bdnews24.com reports citing Reuters.

Source: bd News24 August 05, 2022 06:52 UTC