News > RBI Hikes Key Lending Rate, Loans Set To Get Costlier
RBI Hikes Key Lending Rate, Loans Set To Get Costlier
The Free Press Journal | 08/06/2022 10:35 AM | Click to read full article
The Reserve Bank of India raised its key interest rate by 50 basis points on Wednesday, taking the repo rate to 4.9 per cent, and raised its inflation projection for the current fiscal to 6.7 per cent, well above the upper-end of its target range of 2-6 per cent.
Late last month, after the off-cycle interest rate increase, Governor Shaktikanta Das said that another rate hike move at the June policy meeting was a "no-brainer".
