New Delhi, Oct. 7 -- Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday announced that the Monetary Policy Committee (MPC) had hiked the repo rate by 25 basis points to 5.5 per cent, marking the first increase in over three years, in a move to control rising inflation amid a continuing crisis in West Asia.

According to a PTI report, the RBI's last repo rate hike was in February 2023, when the central bank raised it by 0.25 percentage points to 6.50 per cent. Between 2023 and 2024, it kept the repo rate unchanged before the rate-cut cycle began in 2025. At the bi-monthly monetary policy meeting, the RBI Governor said the MPC had unanimously decided to raise the policy repo rate by 25 basis points and had also changed its st...