20.82°C Vancouver

Jun 7, 2022 4:09 PM - ANI

RBI set to hike policy interest rates; raise inflation forecast on June 8

Share On
rbi-set-to-hike-policy-interest-rates-raise-inflation-forecast-on-june-8
RBI Governor Shaktikanta Das (file photo/ANI)

The Reserve Bank of India (RBI) is set to hike the policy repo rate by 40 basis points to 4.80 per cent on Wednesday and increase the inflation forecast for the current fiscal to above 6 per cent from its earlier projection of 5.7 per cent, according to market analysts and economists.

The six-member Monetary Policy Committee (MPC) of the RBI is certain to hike the policy interest rates as inflation has remained above the central bank's tolerance limit for the past several months.

Last month, in its off-cycle monetary policy review the central bank hiked the policy repo rate by 40 basis points or 0.40 per cent to 4.4 per cent. This was the first increase in the policy repo rate in nearly two years. The repo rate is the interest rate at which the RBI lends short-term funds to banks.

Latest news

canada-wins-bronze-at-womens-3x3-basketball-world-cup
CanadaJun 30, 2025

Canada wins bronze at women's 3x3 basketball World Cup

Canada's women's team has won the bronze medal in the FIBA ​​3X3 Basketball World Cup. The Canadian team defeated Poland 21-9 in the bronze medal match at the World Cup played in Mongolia. Paige Crozon was a key contributor to the Canadian team's victory, scoring 13 points and grabbing 5 rebounds. Meanwhile, Saicha Grant Allen scored 5 points and grabbed 5 rebounds in the match. The 6th ranked Canadian team lost 15-21 to the Netherlands in the semi-final match yesterday. The Netherlands team managed to win the gold medal in this World Cup. Host Mongolia finished second in this tournament.
income-tax-cut-for-middle-class-to-take-effect-tomorrow-mark-carney
CanadaJun 30, 2025

Income tax cut for middle class to take effect tomorrow: Mark Carney

Prime Minister Mark Carney has announced that income tax cuts for the middle class will take effect tomorrow. The government has reduced the lowest personal income tax rate from 15 to 14 per cent. According to the Carney government's estimates, 22 million Canadians will benefit from this. PM Carney had promised this during the election campaign and said after the election that this cut would be implemented from Canada Day. This tax cut will apply to the two lowest tax brackets, the first whose taxable income in 2025 is up to $114,750 and the second whose income will be up to $57,375 in the
attorney-generals-statement-on-inquiry-into-event-safety
BCJun 30, 2025

Attorney general’s statement on inquiry into event safety

Niki Sharma, Attorney General, has released the following statement about the Commission of Inquiry into Community Events Safety in B.C. “On Saturday, April 26, 2025, British Columbia experienced one of the worst moments in our history, when a senseless act of violence turned a Lapu-Lapu Day celebration into a tragedy that left 11 people dead and countless more injured and traumatized. “In the aftermath, British Columbians understandably raised questions about enhancing public safety so people can feel safe attending and celebrating community events of all sizes this summer. That is why Pr
canada-sprint-canoeist-katie-vincent-sets-world-record-at-national-trials
CanadaJun 30, 2025

Canada: Sprint canoeist Katie Vincent sets world record at national trials

Canadian sprint canoeist Katie Vincent has set a world record in the C-1 500-meter event. Katie Vincent set the world record during the National Trials in Montreal on Sunday. 29-year-old Olympic champion Katie Vincent set a new record by completing the event in 2 minutes 0.609 seconds. The previous world record was held by Alena Nazdarova of Belarus, who set the record at the World Championships in Hungary in 2019 with a time of 2 minutes 0.73 seconds. Quebec's Sophia Jensen, a World Cup silver medalist, took second place in yesterday's trials.
man-arrested-in-connection-with-slashing
CanadaJun 30, 2025

Man arrested in connection with slashing

A man has been arrested and White Rock RCMP are investigating after reports another man was stabbed. White Rock RCMP received 9-1-1 calls advising of a fight involving a knife in the 1100 block of Oxford Street on Sunday June 29, 2025 at 9:50 p.m. Upon arrival, police observed a vehicle attempting to leave the scene and a high-risk traffic stop was initiated. A man matching the suspect description was inside the vehicle and he was arrested and transported to White Rock RCMP cells. “We want to thank the 9-1-1 callers who gave timely information which enabled us to locate and arrest the susp

Related News