RBI hikes repo rate by 35 bps to 6.25%; accommodation withdrawal continues

The (RBI) on Wednesday hiked the by 35 basis points (bps) to 6.25 per cent. RBI governor said that the RBI would continue the withdrawal of accommodation.

“MPC was of the view that further caliberated monetary policy action is warranted to keep expectations anchored, break core persistence and contain second round effects…,” Das said.

The central bank had last raised the key benchmark rate by 50 basis points on September 30. With this, the has been raised by 225 bps since April 2022.

In its last policy statement on September 30, the RBI’s MPC projected GDP growth for the FY23 at 7 per cent and retail at 6.7 per cent.

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