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The Reserve Financial institution of India on Thursday introduced that the subsequent assembly of the Financial Coverage Committee has been rescheduled to be held between August 3-5 resulting from some administrative exigencies.
The MPC was initially scheduled to fulfill between August 2-4.
The RBI up to now on this monetary 12 months has raised the important thing coverage price by 90 foundation factors in Might and June to 4.9% to tame excessive inflation, primarily resulting from provide disruptions on account of the continuing Russia-Ukraine warfare.
In its earlier bi-monthly financial coverage evaluation, it had raised the benchmark repo price — at which it lends short-term cash to banks — by a pointy 0.50 per cent to 4.90 per cent to rein in spiralling costs. It adopted an off-cycle assembly on Might 4, when the central financial institution hiked the repo price by 0.40 per cent.
The RBI had additionally raised the inflation projection to six.7 per cent for the present fiscal 12 months from its earlier forecast of 5.7 per cent.
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