RBI raises repo rate 25 bps to 5.50%, first hike in nearly four years

The Reserve Bank of India raised the repo rate by 25 basis points to 5.50 per cent on Wednesday, its first hike in nearly four years, and shifted its stance from neutral to calibrated tightening. The unanimous MPC decision signals further increases may come amid rising inflation, a weak rupee and elevated crude oil prices. EMIs on home, auto and personal loans will rise.