Published 2 years ago

RBI weighs in favour of sustainable economic growth, hikes rates to a 3-year-high of 5.9 per cent, real estate industry reacts

Summary by Ground News

RBI has lowered its GDP growth forecast for the current financial year to 7 per cent from an earlier estimate of 7.2 per cent. This is the fourth consecutive hike in repo rates, following the 40 basis points increase in May, and 50 basis points hike each in June and August. Analysts have voiced that there may be another hike in December.

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RBI weighs in favour of sustainable economic growth, hikes rates to a 3-year-high of 5.9 per cent, real estate industry reacts

RBI's monetary policy committee (MPC), which determines interest rates, opted to raise the policy repo rate by 50 basis points to 5.9 per cent with immediate effect. This decision was taken after three days-long sessions that concluded on September 30.

2 years ago

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