RBI sees credit growth easing from 19% after repo hike
In short
The Reserve Bank of India expects bank credit growth to slow from 19% after a recent repo rate hike.
The report says the higher rate was meant to fight rising inflation, but lending is still strong in services and industry. It does not say how big the rate hike was.
What the reporting says
The Reserve Bank of India projects bank credit growth will moderate from the current 19% level after a recent repo rate increase. The summary says the higher rate was used to manage rising inflation, while credit growth is still expected to remain strong enough to support economic activity. It also says lending to services and industry is growing year on year, but does not give the size of the repo hike.
Why it matters
The Reserve Bank of India projects bank credit growth will ease from the current 19% level after a recent repo rate increase. The summary ties the slower pace to efforts to manage rising inflation, while noting that lending to services and industry is still growing year on year. The reporting does not state the size of the rate hike or any policy change beyond that.