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Congress Slams Government Over Repo Rate Hike
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News18•07-10-2026, 14:51
Congress Slams Government Over Repo Rate Hike
- •The Reserve Bank of India has raised the benchmark repo rate by 25 basis points to 5.50 percent.
- •The decision has sparked a fresh political confrontation between the Congress and the Modi government.
- •This marks the RBI first repo rate hike since February 2023 amid rising inflation risks and higher crude oil prices.
- •The Monetary Policy Committee has shifted its policy stance from neutral to calibrated tightening.
Key Questions Answered
The Reserve Bank of India raised the benchmark repo rate by 25 basis points to 5.50% on October 7, marking its first repo rate hike since February 2023.
The central bank implemented the rate hike amid rising inflation risks, higher crude oil prices, and changing global financial conditions.
Alongside the repo rate increase, the Monetary Policy Committee shifted its policy stance from neutral to calibrated tightening.
