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RBI ups lending late fifth time in a row to 6.25%, loan EMIs set to move northwards

December 7, 2022: The Reserve Bank of India, on Wednesday, hiked its key lending rate, the repo rate, by 35 basis points to 6.25 per cent.

After three consecutive 50 basis points hikes, the central bank chose to hike the rates by 35 basis points, citing slowing inflation, after consumer-price-based inflation eased to a three-month low of 6.77 per cent in October from a year ago. 

RBI Governor Shaktikanta Das said inflation remains high and the battle against inflation has to continue as risks persist. 

“Globally, inflation remains high and broad-based in the aftermath of the Russia-Ukraine war. Retail inflation projection retained at 6.7 per cent for FY23, and we will keep Arjuna’s eye on evolving inflation dynamics,” said the Governor.