Central banks

RBI Turns Hawkish: First Repo Hike in 44 Months, Stance Shifts to Calibrated Tightening

The RBI's Monetary Policy Committee voted unanimously to raise the repo rate by 25 bps to 5.50%, its first hike since February 2023, and moved its stance from neutral to calibrated tightening. SDF now stands at 5.25%, MSF and Bank Rate at 5.75%. FY27 CPI forecast lifted to 5.2%, GDP to 7.1%.