RBI hikes repo rate by 50 bps to 5.90% to curb inflation

The central bank had hiked repo rate four times since May to the recent 5.90 per cent.

The recent revision in repo rate has been made to keep inflation levels within the target.

Monetary Policy Committee (MPC) decided to hike the repo rate by a majority of five out of six.

This revision comes as analysts predicted a 50 bps hike in repo rate due to global situations.

With a hike in repo rate, EMIs for home, car and personal loans are also likely to go up.

Source: Business Today