RBI Boosts Repo Rate to 5.50% After Four-Year Break

Hold onto your wallets! The Reserve Bank of India just raised its repo rate by 25 basis points to 5.50%, marking its first hike in almost four years! This decision comes as inflation is on the rise and the global economy is doing a little dance. They predict inflation will hit 5.9% this December, so they’re trying to keep the economy growing while keeping prices in check. It’s a balancing act!