India’s Reserve Bank of India on Wednesday hiked the repo rate for the fifth time in a row, by 35 bps to 6.25% with immediate effect. The central bank had last raised the key benchmark rate by 50 basis points on September 30. RBI also lowered its GDP growth forecast for FY23 to 6.8 per cent from 7 per cent earlier but retained the consumer price inflation forecast for FY23 at 6.7 per cent.
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