US Fed hikes rate by 0.75% again; will RBI follow suit?

The RBI is expected to announce a 0.35% hike in the key repo rate at its meeting next week, according to BofA Securities

The world due to the ongoing Russia-Ukraine war which led to the surge in international crude prices, the US Federal Reserve hiked interest rates by 75 basis points (bps) for the second straight month on Wednesday.

Central banks in Australia, the United Kingdom, Europe, and Canada have also raised their rates to combat rising costs.

The Federal Reserve on Wednesday raised the official interest rate by 0.75%

March and May, taking its benchmark rate to a range of 2.25% to 2.5%.