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Morning Scan: All the big stories to get you started for the day

A round-up of the biggest articles from newspapers

November 28, 2022 / 07:25 AM IST

Reserve Bank may hike interest rate by 0.35 per cent before pause

The monetary policy committee of the Reserve Bank of India is likely to announce a hike of 0.35 percentage point in the repo rate on December 7 to bring retail inflation back to its 4 per cent target, according to a poll of 10 economists by Business Standard. The committee’s next meeting is scheduled from December 5-7. Since May 4, the central bank has raised the repo rate by a total of 1.9 percentage points to 5.9 per cent. The monetary panel is seen increasing the repo rate by 0.35 percentage points in the upcoming meeting, taking the benchmark policy rate to 6.25 per cent.

Why it’s important: Retail inflation is likely to be around 6.7 per cent in the year to March, still above the central bank’s upper tolerance limit. Corporate India has asked for a moderation in the pace of rate hikes.

Commerce ministry to offer incentives for revival of merchandise exports