Monetary Policy Committee

Economists expect 40-50 bps hike in repo rate by MPC next month

No compromise on capex; consolidated fund to be used if needed, the source said

Tax cuts will not lower inflation significantly

Says have entered another phase of 'coordinated action' between fiscal and monetary authorities

Monetary policy committee says decision to cut repo rate was at the correct time.

External member Jayanth Varma said 100 bps rate hike required 'very soon'

In a constitutional democracy, the RBI is bound by the law to focus on its core mandate

The economists said they did a study of the Russian invasion's impact on inflation, which revealed that 59 per cent of the jump in prices is due to geopolitical events

The RBI's Monetary Policy Committee is likely to hike the repo rate in June after it had announced a 40 basis point increase in it in an off-cycle announcement earlier this month

While noting that Inflation has just exceeded RBI's tolerance band due to the protracted Ukraine-Russia war, Goyal said Indian demand and wages are 'soft'

Ranjan will also serve as an ex-officio member of the rate-setting panel Monetary Policy Committee (MPC)

HDFC Bank hiked marginal cost of funds based lending rate (MCLR) by 25 bps across all tenures up to 7.7 per cent, effective May 7

Another rate hike in June is on the cards. The question is: How much? Could it be 75 bps at one go or staggered over the next two meetings?

The auction was scheduled for four securities - 5.74% GS 2026 (Rs 9,000 crore), GOI Floating Rate Bond 2028 (Rs 4,000 crore), 6.67% GS 2035 (Rs 10,000 crore), and 6.99% GS 2051 (Rs 9,000 crore)

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Soumya Kanti Ghosh, Group Chief Economic Adviser, State Bank of India, said he expected repo hikes in June and August policy review meetings too

The 10-year government bond shot up 26 bps, with the street expecting another rate hike in the June policy

The bond markets also saw a sell-off, and the yield on the 10-year government bond rose to 7.37 per cent, hitting a three-year high

RBI has been slow in withdrawing accommodation

Retail inflation has overshot the 6% upper tolerance limit for three years on the trot; experts say protracted Ukraine war and other factors may keep prices up