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RBI Monetary Policy Decision

Surprise rate hike in an unscheduled MPC meet
05 May 2022
    Local Market Commentary
    Download the full reportPDF, 2.23MB

    RBI Monetary Policy Decision

    Key Highlights

    Repo rate hiked by 40 bps; CRR hiked by 50 bps

    • Repo rate hiked by 40 bps at 4.4 per cent; Standing Deposit Facility Rate by 40 bps to 4.15 per cent and Marginal Standing Facility by 40 bps to 4.65 per cent
    • CRR hiked from 4 per cent of net demand and time liabilities (NDTL) to 4.5 per cent of NDTL
    • Stance remains “accommodative” while at same time focusing on “withdrawal of accommodation” to ensure that inflation remains within the target going forward, while supporting growth
    • Significant upside risks envisaged to the inflation trajectory set out in April statement of MPC

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