28
The RBI is likely to hike interest rates as inflation continues to peak in India. The RBI is expected to hike the repo rate by another 0.35 per cent after raising it by 50 basis points three times since June. Earlier in May it suddenly raised 40 basis points. Rates have increased by 1.9 percent so far.
The three-day meeting of the Reserve Bank’s interest rate-setting committee began on Monday. RBI Governor Shaktikanta Das will announce the policy of the Monetary Policy Committee (MPC) tomorrow.