Rate hike, withdrawal of accommodation calibrated to evolving inflation-growth dynamics: RBI Governor

​​​The six-member Monetary Policy Committee (MPC), which met from May 6-to 8, unanimously voted to increase the policy repo rate to 4.90 per cent. The rate-setting panel also decided to remain focused on the withdrawal of accommodation to ensure that inflation remains within the target going forward while supporting growth.

Rate hike, withdrawal of accommodation calibrated to evolving inflation-growth dynamics: RBI Governor
​​​The six-member Monetary Policy Committee (MPC), which met from May 6-to 8, unanimously voted to increase the policy repo rate to 4.90 per cent. The rate-setting panel also decided to remain focused on the withdrawal of accommodation to ensure that inflation remains within the target going forward while supporting growth.