Hindustan Times: The Reserve Bank of India on Wednesday raised its policy repo rate as expected for the second straight meeting, citing inflation con
cerns but retained its “neutral” stance. The central bank hiked interest rates by 25 basis points to 6.5 per cent, in the second such hike in three months. This will affect EMIs of housing and automobile loans for consumers.
Five of the six members on the rate panel voted for a rate increase.
The central bank maintained its neutral monetary policy stance with the objective of containing inflation at 4 per cent within a band of 2 per cent, while supporting growth.