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.

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

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

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

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

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