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Systematix Research Report
Reserve Bank of India hiked its repo rate by 35 basis points to 6.25% in today’s policy meet, in line with ours and the broader expectations while maintaining the policy stance to ‘withdrawal of accommodation’.
Parallelly, the standing deposit facility and the marginal standing facility rates were increased to 6% and 6.5% respectively.
RBI revised down its growth forecast to 6.8% FY23 from 7% during the last meet. On the inflation front, RBI maintained its forecast at 6.7% for FY23.
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