BusinessRBI Raises Repo Rate by 25 bps to 5.5% to Combat Inflation
The Reserve Bank of India increased its benchmark repo rate by 25 basis points to 5.50%, marking its first hike since February 2023. This move responds to rising inflation pressures, with consumer inflation at 4.82% in August, above the RBI's 4% target for three months. The rate hike follows a period of easing and steady rates amid geopolitical tensions and crude oil price surges.
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