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RBI’s 4th Monetary Policy - 2022-23

RBI policy focuses on macro stability with a 50 bps rate hike
03 October 2022
    Local Market Commentary
    Download the full reportPDF, 2.06MB

    Key Highlights

    • Repo rate hiked by 50 bps to 5.90 per cent; Standing Deposit Facility Rate by 50 bps to 5.65 per cent and Marginal Standing Facility by 50 bps to 6.15 per cent;
    • MPC continues with focus on “withdrawal of accommodation” stance
    • One member dissented with the 50 bps rate hike stance (with 5 members voting for it) and voted for a 35 bps hike instead while another member dissented with the policy stance (5 members voting for it)
    • Inflation projection for FY 23 unchanged at 6.7 per cent, GDP estimate reduced marginally to 7.0 per cent v/s 7.2 per cent
    • No change in CRR – remains at 4.5 per cent of net demand and time liabilities (NDTL)

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