RBI hikes repo rate by 25 bps to 5.5%, first since 2023
The Reserve Bank of India raised the repo rate by 25 basis points to 5.5% on Wednesday, its first hike since February 2023, citing strong growth and inflation pressures from the West Asia conflict. The move will raise EMIs, with a Rs 1 crore loan over 15 years costing about Rs 1,500 more a month. RBI also raised its FY27 growth forecast to 7.1% and inflation forecast to 5.2%, shifting its policy stance to 'calibrated tightening'.
Source
RBI · read the original report ↗
Desk check · compared with the source
What the desk checked (4)
- RBI raised repo rate by 25 basis points to 5.5%, first hike since Feb 2023 — Attributed to RBI announcement, consistent with article
- EMI on Rs 1 crore loan over 15 years to rise by about Rs 1,500/month — Figure appears in source as an illustrative calculation
- RBI raised FY27 GDP growth forecast to 7.1% and inflation forecast to 5.2% — Attributed to RBI's official projections cited in source
- Inflation could peak around 6.8% in Nov 2026 with repo rate peaking near 6% in Dec — Attributed to SBI group chief economist, a forecast not a confirmed fact