Repo rate hike is a measured, pre-emptive step by RBI : IOB CMD

Chennai, Oct 7 (UNI) The RBI's decision to raise the repo rate by 25 basis points to 5.50% is a measured and pre-emptive step, Indian Overseas Bank (IOB) MD and CEO Ajay Kumar Srivastava said on Wednesday. In a statement here with CPI inflation projected at 5.2% for FY27 and supply-side pressures from energy prices, a deficient monsoon and El Niño conditions persisting, the MPC has acted to contain the risk of price pressures becoming more broad-based. The shift to a calibrated tightening stance is equally significant, signalling that rate cuts are off the table for now and that further…