RBI Hikes Repo Rate to 5.50% as Inflation Rises
The Reserve Bank of India's Monetary Policy Committee voted unanimously to increase the repo rate by 25 basis points to 5.50 percent, citing that inflation is no longer benign.
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By Bharath RajeswaranIndian shares trimmed losses on Wednesday as financial stocks reversed early declines after the RBI hiked rates by an expected 25 basis points and stayed away from additional measures to drain liquidity.The Reserve Bank of India increased its benchmark repo rate to 5.5%, its fi…
50 percent. 8 percent over the next three qua…