Econintersect: The RBI (Reserve Bank of India), in a surprise move, has hiked key policy rates, reverse and reverse repo, by 50 basis points each. It was generally accepted that a 25 bp increase was coming, as reported by The Economic Times just one hour before the announcement. The new rates have the repo rate at 8% and the reverse repo at 7%. The cash reserve ratio (CRR) remains unchanged at 6%.The following rate history table is from CNBC News:
Hat tip to Sanjeev Kulkarni.