RBI raises repo rate to 5.50% for first time in nearly four years amid inflation concerns
- RBI raises repo rate by 25 bps to 5.50%, marking its first hike since August 2018.
- Economists cite rising oil prices and a weak monsoon as key inflation risks behind the hike.
- RBI says a weaker rupee has added to inflationary pressures by raising import costs.
- RBI says the rate hike aims to contain inflation and maintain economic stability.
Source: economictimes.indiatimes.com
Get 100 stories a day on the app
Read, watch & listen · Free on iOS & Android
