RBI hikes repo rate by 40 bps to 4.0% with immediate effect: Governor

“Shortages and volatility in commodities and financial markets are becoming more acute,” Shaktikanta Das said.

RBI governor Shaktikanta Das. (PTI PHOTO)

Published on May 04, 2022 02:23 PM IST

In an unscheduled policy review with a view to contain inflation, Reserve Bank of India (RBI) governor Shaktikanta Das on Wednesday announced that MPC voted unanimously to increase the policy repo rate by 40 basis points (bps) to 4.40 per cent with immediate effect.“Shortages and volatility in commodities and financial markets are becoming more acute,” Das said.

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