Monetary Policy Review - RBI Hikes Repo Rate By 50 Bps, Crosses Pre-Pandemic Level: CareEdge
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CareEdge Research Report
Continuing with its focus to achieve price and financial stability, Reserve Bank of India’s Monetary Policy Committee hiked the policy repo rate by 50 basis points to 5.40% in its August policy meet.
With this, the repo rate has moved beyond the pre-pandemic level of 5.15%.
The liquidity adjustment facility corridor was maintained at 50 bps, with the standing deposit facility rate and the marginal standing facility rate adjusted to 5.15% and 5.65%, respectively.
The decision of hiking the policy rate was unanimous by all members of the MPC. The policy stance was maintained at ‘focus on withdrawal of accommodation’. The policy decisions are in line with our expectations.
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