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Minutes of the Monetary Policy Committee Meeting, May 2 and 4, 2022 [Under Section 45ZL of the Reserve Bank of India Act, 1934] The thirty fifth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the Reserve Bank of India Act, 1934, was held during May 2 and 4, 2022 as an off-cycle meeting to reassess the evolving inflation-growth dynamics and the impact of the developments after its meeting of April 6-8, 2022. 2. The meeting was attended by all the members
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FAQ :
The RBI held an off-cycle meeting on May 2-4, 2022, to reassess the evolving inflation-growth dynamics and the impact of recent global developments.
The MPC decided to increase the policy repo rate under the liquidity adjustment facility (LAF) by 40 basis points to 4.40% with immediate effect.
The new policy repo rate is 4.40%.
The RBI has decided to remain accommodative while focusing on the withdrawal of accommodation to ensure inflation remains within the target, while also supporting economic growth.
The decision was influenced by persistent global disruptions, escalating prices due to geopolitical tensions, and a significant increase in domestic CPI inflation.
The minutes of the MPC's meeting were scheduled to be published on May 18, 2022.
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