Just In: RBI hikes repo rate to 5.50%; changes stance to ‘Calibrated Tightening’

The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has hiked repo rate by 25 basis points to 5.50 per cent from 5.25 per cent earlier. Also, RBI has changed monetary policy stance to ‘Calibrated Tightening’ from ‘Neutral’. Accordingly, MSF and SDF rates increased to 5.75% and 5.25%, respectively.