RBI MPC: Here is what experts have to say about the policy announcement

Despite some signs of moderation, RBI Governor Shaktikanta Das said the main risk was that inflation would remain sticky and elevated

The Reserve Bank of India (RBI) hiked the repo rate by 35 basis points (bps) to 6.25 per cent on Wednesday. RBI governor Shaktikanta Das said that the Monetary Policy Committee (MPC) voted 5-1 to raise the rates. RBI lowered its GDP growth forecast for FY23 to 6.8 per cent from 7 per cent earlier.

Shashanka Bhide, Ashima Goyal, Rajiv Ranjan, Michael Debabrata Patra and Shaktikanta Das voted to increase the policy repo rate by 35 basis points. Jayanth R Varma voted against the repo rate hike.

The MPC, by a majority of 4-2, voted to remain focused on withdrawing