RBI to hike repo rate by 50 bps for 3rd time in a row as rupee slumps

The Reserve Bank of India's six-member monetary policy committee will raise its repurchase rate by 50 basis points to 5.9%, according to 24 of 35 economists surveyed by Bloomberg as of Wednesday.

Photo: Bloomberg
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Photo: Bloomberg

Anup Roy and Ronojoy Mazumdar | Bloomberg
India’s central bank is expected to increase its policy rate by half a point for the third time in a row as the currency’s plunge to a record low this month complicates the battle against inflation.
 
The Reserve Bank of India’s six-member monetary policy committee will raise its repurchase rate by 50 basis points to 5.9%, according to 24 of 35 economists surveyed by Bloomberg as of Wednesday. Ten forecast the rate will rise by 35 basis points to 5.75%, while one sees a quarter-point increase.

Governor Shaktikanta Das may opt to dial up his hawkish rhetoric on Friday from

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First Published: Sep 29 2022 | 7:11 AM IST

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