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Monday, May 23, 2022

RBI Governor Statement: RBI gave a shock, increased the repo rate to 4.40 percent, loan will be expensive

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RBI Governor: Reserve Bank of India Governor Shaktikanta Das has issued a statement today and said that there has been a slowdown in global economic activity and pace and its effect is being seen on the Indian markets as well. Inflation pressure is increasing in the country. There is also a decrease in the commodity market. According to the rule book on monetary policy, work is not done.

Big announcement by RBI Governor
RBI Governor Shaktikanta Das has announced that the repo rate is being increased by 0.40 percent. Explain that this will make it expensive for banks to take loans from RBI. Today the RBI has increased the repo rate by 0.40 percent to 4.40 percent, which will make it expensive for the common people including banks to take loans.

RBI hikes rates ahead of June 6-8 monetary policy
Let us inform that RBI’s Monetary Policy Review i.e. MPC meeting was to be held on June 6-8, but even before this, in view of the global conditions, RBI has increased the repo rate by 0.40 percent today. Earlier, no increase in interest rates was done in the MPC meeting on 6-8 April.

market drop
The decline in the stock market increased as soon as RBI Governor Shaktikanta Das issued the statement at 2 pm. The equity market, including the bond market, saw a major decline. As soon as the news of the release of the RBI Governor’s statement came, there was a stir in the financial world already today. Today, the Sensex fell by more than 1000 points as soon as the RBI increased the repo rate.

RBI’s statement is different from the general monetary policy
Let us tell you that this statement of RBI Governor is different from his monetary policy addresses. Earlier in April, RBI had announced the monetary policy review meeting and the next policy would come in June. In such a situation, apart from the traditional announcements, this statement of the RBI Governor has been considered very important.

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