Repo rate · 2022

RBI repo rate in 2022

5 MPC decisions this year. Rate moved from 4.00% to 6.25% (+225 bps).

Year open
4.00%
Year close
6.25%
Net move
+225 bps

MPC decisions in 2022

  1. 7 Dec 2022
    6.25%+35 bps
    EMI impact (₹1L · 20y)
    ₹91 higher

    Pace slowed from 50 bps as headline CPI showed signs of easing.

  2. 30 Sept 2022
    5.90%+50 bps
    EMI impact (₹1L · 20y)
    ₹130 higher

    Third consecutive 50 bps move in the tightening cycle.

  3. 5 Aug 2022
    5.40%+50 bps
    EMI impact (₹1L · 20y)
    ₹130 higher

    CPI inflation above 7%; RBI moved aggressively to anchor expectations.

  4. 8 Jun 2022
    4.90%+50 bps
    EMI impact (₹1L · 20y)
    ₹130 higher

    Russia–Ukraine commodity shock pushed inflation outside band.

  5. 4 May 2022
    4.40%+40 bps
    EMI impact (₹1L · 20y)
    ₹104 higher

    First hike in the cycle, off-cycle MPC decision after global inflation surge.

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