RBI hikes Repo Rate by 25 bps

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Mumbai, Feb 8 (UNI) – The Reserve Bank of India (RBI) on Wednesday hiked the Repo Rate by 25 basis points to 6.5 pc as core inflation remains high despite signs retail inflation.

 

Announcing the policy, RBI governor, Shakti Kanta Das said, the repo rate is considered appropriate at this juncture.

 

He said RBI sees FY 24 GDP growth at 6.4 pc .

 

Amid volatile global development, Indian economy remains resilient, Mr Das said.

 

The MPC decided 4: 2 vote to remain focussed on withdrawal of accomodate policy.

 

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