Macro Updates
On expected lines the Monetary Policy Committee (MPC) of Reserve Bank of India (RBI) increased the policy repo rate by 25 basis points in its February meeting to 6.50%. Cumulatively, MPC increased the policy repo rate by 250bps till now from May 2022 with an off-cycle rate hike of 40 basis points. The MPC retained its earlier stance to remain focused on withdrawal of accommodation. (Our research)
February 9, 2023