RBI Hike and Impact
RBI has hiked repo rate by 50 basis points
Find out why
What has happened?
Repo rate hiked by 0.5%
The new Repo Rate is now 4.90%
Total hike has been 0.90% in last 5 weeks
Why has this happened?
RBI expects inflation to stay above 6%
To cut rising inflation, repo rate needs to be hiked
The hike is expected to cut money supply
EMIs across banks will rise
Inflation is expected to go down in next few quarters
Consumption in the market could decline
How is the inflation scenario?
Inflation went above 10% briefly this year
RBI maintains 7.2% target for 2022-23
Global price rises have affected Indian inflation
Savings Accounts Interest rates are expected to rise
Here are the best banks for savings accounts in India in 2022