A brief note on the key outcomes of RBI Monetary Policy- June 2022
In a much-anticipated meeting, the Monetary Policy Committee (MPC) decided to take the middle ground and made the following important announcements:
- The Repo Rate & Standing Deposit Facility Rate have been hiked by 50 basis points to 4.9% and 4.65% respectively. The MPC decision was unanimously.
- The monetary policy stance was switched to “focussed on withdrawal”. The word “accommodative” was dropped.
- FY23 inflation forecast was increased to 6.7% y/y from earlier forecast of 5.7% y/y. The revised forecast considers average crude oil price of $105 / barrel.
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