- 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%
