The Reserve Bank of India (RBI) on September 30 announced a 50 basis points hike in the repo rate stepping up its fight against persistently high inflation. Repo is the rate at which the central bank lends short-term funds to banks. One bps is one-hundredth of a percentage point. With the latest rate hike, the…
The Monetary Policy Committee (MPC) is expected to unanimously decide to raise the policy repo rate by 50 basis points (bps) at its upcoming meeting in order to rein in above-target inflation and address currency concerns. If the MPC votes for a 50 basis point increase in the repo rate (the interest rate at which…
Wholesale inflation (WPI) in India continued to decline, dropping from 13.93% in July to an 11-month low of 12.41% in August. The wholesale pricing index remained in double digits for the 17th consecutive month in August despite the slight cooling off. The increase in inflation shown in the food articles section, up from 10.77% in…
India’s demand for petroleum products like petrol and diesel will grow by 7.73% in 2022, the fastest speed in the world, an OPEC report said, India’s demand for oil products is projected to rise from 4.77 million barrels per day (BPD) in 2021 to 5.14 million BPD in 2022, OPEC said in its monthly oil…
The Reserve Bank of India on Friday raised the repo rate by 50 basis points, the third straight increase since May in an effort to cool rigid high inflation and defend the rupee. The repurchase rate was raised by 50 basis points to lift the interest rate to the pre-pandemic level. The 5.40% repo rate was last…
The Monetary Policy Committee (MPC) on Wednesday collectively voted to increase the policy repo rate by 40 basis points from 4% to 4.40% with an immediate effect, in a clear indication that inflation may be curving to higher levels than expected. The move came a few hours ahead of the Federal Reserve’s rate decision on…
