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RBI may hike rates by 75 bps by August, say SBI economists

At least 59 percent of the accelerated inflation is attributable to the impact of the geopolitical conflict triggered by the Russian invasion of Ukraine, economists at SBI said on Monday. In the face of the heightened inflation situation – the headline number touched nearly 7.8 percent for April, and the RBI is set to hike rates by another 0.75 percent to get the repo rate back to the pre-pandemic level of 5.15 percent, they added.

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