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RBI to raise rates again, slim majority of economists expect 50 bps hike

Sumary of RBI to raise rates again, slim majority of economists expect 50 bps hike:

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  • The U.S. Federal Reserve just delivered its third straight 75 basis point hike and has shown no signs of slowing down, sending the dollar index to a new two-decade high and more downward pressure on the rupee.
  • However, the vote showed the RBI taking a softer reach with rates, with no clear majority on where it will stop hiking but with median forecasts showing the repo rate at 6.00% in each quarter through end-2023.
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