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All eyes on RBIís move after U.S. Fed raises interest rate by 75 bps

28 Jul 2022 8:27 am
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Mumbai, July 28 (Commoditiescontrol) All eyes are now RBI’s move for interest rate hike after the Fed Open Markets Committee raised its benchmark overnight interest rate unanimously by 75bps for the second time in two months.



The Reserve Bank of India's rate-setting panel will go for a 0.35 per cent hike in the key repo rate at its meeting next week, an American brokerage said on Wednesday.


That hike will be accompanied by a change in the policy stance to "calibrated tightening", Bofa Securities said in a report published ahead of the Monetary Policy Committee (MPC) resolution, which is set to be announced on August 5.



The RBI has hiked the rate by a cumulative 0.90 per cent in two tightening moves in May and June, responding to the runaway headline inflation, which has consistently overshot the upper end of the target set for the central bank for many months.


       
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