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RBI to begin a three-day Monetary Policy Meeting

Published on June 06, 2022
Current Context: The Reserve Bank's rate-setting panel will begin its three-day deliberations by today to decide the next monetary policy in the backdrop of high inflationary concerns and evolving geo-political situation.
RBI to begin a three-day Monetary Policy Meeting
  • It is expected that MPC is likely to increase the benchmark lending rate in quick succession in its forthcoming monetary policy review with inflation showing no signs of drop.
  • Earlier it has hiked rates by 0.40% to maintain its core mandate of inflation in the targeted band of under 6%.
  • While considering the Russia-Ukraine conflict, the monetary policy committee again decided to hike the policy repo rate by 40 basis points to 4.40% This was the first increase in the policy repo rate since May 2020.
  • Not only that it has also hiked CRR by 50 basis points to 4%. The impact of which is drawn out Rs 87,000 crore liquidity from the system.
  • The wholesale price-based inflation has remained in double digits for 13 months and touched a record high of 15.08% in April and retail inflation at 7.79%.
  • Now many experts and economists believed that the central bank will take an aggressive step in rising the policy rates to bring down the inflation to a tolerance limit.

Question:

Q.1 The wholesale price-based inflation touched a record high of ________ in April 2022?
a. 16.02%
b. 15.08%
c. 14.02%
d. 13.02%
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