Effective rates now largely higher than repo rate
Tue, Feb 6, 2024 9:09 AM

Effective rates now largely higher than repo rate

A Flip by Avya Verma
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The RBI's focus on withdrawing monetary accommodation and proactively managing liquidity has resulted in tighter financial conditions, effectively raising interest rates without officially doing so. This can be seen in the weighted average call rate (WACR), which has been consistently higher than the repo rate since 2022. The WACR has even been closer to the penal Marginal Standing Facility.

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