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RBI hikes repo rate by 25 bps at 8.00 pc
Mumbai, June 11 (UNI) In the backdrop of mounting inflationary pressures the Reserve bank of India today hiked the repo rate by 25 basis points to eight per cent from 7.75 per cent with immediate effect.
The Apex Bank in a release here said that the repo rate under the Liquidity Adjustment facility (LAF) had been hiked by 25 basis points after a review of the current macroeconomic and overall monetary conditions and with a vie tocontain inflation expectations.
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Story first published: Wednesday, June 11, 2008, 20:33 [IST]
