RBI MPC Today, Oct. 7 -- Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) unanimously raised the repo rate by 25 basis points to 5.5% from 5.25%, in line with expectations. This marks its first rate hike in four years amid price pressures.

At its October 5-7 policy meeting, the MPC also changed its stance to 'calibrated tightening'.

In his statement, RBI Governor, Sanjay Malhotra said, "After a detailed assessment of the evolving macroeconomic and financial conditions, developments and the outlook, the MPC voted unanimously to increase the policy repo rate by 25 basis points."

RBI Governor Sanjay Malhotra indicated that rate cuts were unlikely in the near term.

"The duration and extent of the rate hike cycle, therefore, w...