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RBI hikes repo rates again. What does that mean for you?
Published 3 years, 8 months ago
Description
In its latest review, the Reserve Bank of India has hiked interest rates yet again. The RBI’s six-member Monetary Policy Committee voted 4-2 to raise the benchmark repurchase or repo rate to 6.50 per cent and retain its stance of withdrawing accommodation, which was adopted early last year.
This is the sixth straight increase in interest rates since May last year This time around, the central bank increased borrowing cost by 25 basis points. It is also concerned about inflation, even though retail inflation fell in December for the second month in a row.
In this podcast, we take a look at how this move will affect your finances. Listen in.