RBI raises the repo rate by 50 bps to 5.90%
What happened. On 30 September 2022 the RBI Monetary Policy Committee raised the repo rate by 50 basis points to 5.90%, its fourth consecutive increase, and lowered the FY23 GDP projection to 7.0% from 7.2%.
Why it matters for investors. The rate increases were aimed at containing inflation while supporting growth. Fixed-deposit rates began to rise in response.
Event date: 30 Sep 2022. Source: Reserve Bank of India, Monetary Policy Statement.
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