RBI hikes key lending rate by 50 bps to 5.4% to check inflation

New Delhi, 5/8: The Reserve Bank of India hiked the policy repo rate by 50 basis points to 5.4 per cent on Friday and revised its inflation forecast to 6.7% in 2022-23.



RBI Governor Shaktikanta Das further announced that the real GDP growth projection for 2022-23 has been retained at 7.2 per cent with Q1 – 16.2%, Q2- 6.2%, Q3 -4.1% and Q4- 4% with risks broadly balanced. “The real GDP growth for Q1 2023-24 is projected at 6.7%”, said Das.

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