RBI’s surprise repo rate hike to push up your loan EMIs, FD interest rates

Caught off guard

In a surprise, 2 PM media briefing on May 4, the Reserve Bank of India (RBI) governor announced that key policy rates have been hiked. As per the announcement made, the RBI has hiked the repo rate by 40 bps up to 4.40% from 4% earlier. The last time repo rate was cut was in May 2020 and has been kept unchanged since then.

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