Latest News LIVE: RBI likely to hike rates in key monetary policy review today

The (RBI) in the Committee’s (MPC’s) statement on Friday is expected to announce another rate hike by 35-50 basis points to tame the inflationary pressure and protect against further rupee depreciation. The second bi-monthly meeting of the RBI MPC started on Wednesday and Governor will announce the Committee decisions on Friday morning.

The current hike is expected to drive the either equal to or above the pre-pandemic level. If done, this will be RBI’s third rate hike in the current financial year. 

House Speaker in Japan on Friday said that the US will not ‘not allow’ to isolate . This came after deployed scores of planes and fired live missiles near on Thursday in its biggest-ever drills in the Strait, a day after Pelosi’s trip to the island nation. Taiwan’s defence ministry said it scrambled jets to warn away 22 Chinese fighter aircraft that crossed the Taiwan Strait median line into its air defence zone. 

The (IMF) has recommended that India should gradually withdraw its fiscal and stimulus, develop export infrastructure, and negotiate free-trade agreements with key trading partners to provide a sustainable boost to exports to maintain external sector balance at a comfortable level over the medium term.

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