RBI raises repo rate to 5.5% in first hike under Governor Sanjay Malhotra, shifts stance to ‘calibrated tightening’

The Reserve Bank of India raised its benchmark repo rate by 25 basis points to 5.5% on Wednesday, its first hike since February 2023. The central bank shifted its policy stance to 'calibrated tightening' and raised its FY27 growth forecast to 7.1%.