The News Craving
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BOOM Live
BOOM Live
By BOOM Team The Reserve Bank of India (RBI) hiked the repo rate by 50 basis points on Friday to 5.4 per cent, its third hike in the current financial year continuing its fight to tame stubbornly high inflation. The decision of the six-member Monetary Policy Committee (MPC) of the RBI, which met on August 3 to Aug 5, 2022 was largely in line with expectations. Financial markets were largely unchanged at mid day as the hike was on expected lines. June 2022 was the sixth consecutive month when headline CPI (consumer price inflation) inflation remained at or above the upper tolerance level of 6 p…