Reserve Bank of India increases key policy repo rate

13:03 - 5.08.2022

August 5, Fineko/abc.az. The Reserve Bank of India's key policy repo rate was raised by 50 basis points on Friday, the third increase in as many months to cool stubbornly high inflation.

ABC.AZ reports that since May the RBI has increased it following the results of the 3rd meeting in a row. After the decision, the yields of bonds and rupees in the country increased.

Inflation in India in June was 7.01% in annual terms compared with 7.04% in the previous month. The target range is 2-6%, but the rate of price growth has exceeded this level for six consecutive months.

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