RBI board to decide on further hike in its lending and borrowing rates : Pranab

Finance Minister Pranab Mukherjee today said the Reserve Bank will decide on a further hike in its lending and borrowing rates at the quarterly review meeting on July 27. “The RBI Board will come up with its policy on July 27. Let us wait till then,” Mukherjee told newspersons here when asked whether there would be any further hike in the repo and reverse repo rates of the RBI.

The RBI had on July 2 raised the repo and reverse repo rates by 25 basis points each to rein in double-digit inflation.

The unscheduled announcement on July 2 of an increase in short term rates came ahead of the July 27 policy review by the apex bank.