Worst of inflation behind us, but no room for complacency: Shaktikanta Das

Mumbai: The worst of inflation is behind us, but there is no room for complacency in the fight against price-rise, RBI Governor Shaktikanta Das said on Wednesday.

Das also said that from a growth perspective, India stands out as an isle of resilience in a "gloomy world" which is staring at slowing growth with possibilities of recession in some countries, Das told reporters in the post-policy review.

The RBI on Wednesday expectedly slowed the pace of increase in borrowing costs in signs that rates may be nearing the peak, even as it reiterated its resolve to fight



inflation that has stayed above the comfort zone for 10 straight months.

The Reserve Bank of India (RBI) hiked the key repo rate by 35 basis points, the fifth straight increase since May, raising prospects of EMIs for home, auto and other loans rising further.

The previous four increases totalled 190 bps, with the last three hikes being 50 bps each.

Earlier in the day, the RBI's rate-setting panel resolved to go for a 35 basis points hike in the key interest rates, taking the cumulative rate hikes to 2.25 per cent since May 2022.