The Repo Rate Hike: Inflation Gave the Cover, the Rupee Gave the Reason

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SumanSpeaks Independent Capital Markets & Geopolitical Intelligence RBI Policy Decoded The Repo Rate Hike: Inflation Gave the Cover, the Rupee Gave the Reason The RBI raised the repo rate by 25 basis points to 5.50 percent on 7 October 2026. With the rupee at ₹96.78 to the dollar, the Fed at 3.75–4.00 percent and bank credit growing near 18 percent, the fuller story is bigger than August CPI of 4.8 percent. The Reserve Bank of India raised the repo rate by 25 basis points to 5.50 percent on 7 October 2026. It is the first hike since February 2023, and the stance has moved from neutral to calibrated tightening. The rate decision was unanimous. The Governor cited inflation. The Monetary Policy Committee said the inflation outlook is no longer as comfortable as it was last year, and near-term rate cuts were taken off the table. That is the official story, and it is not wrong. But it is incomplete. Look at what surrounds the decision: a rupee near its record...
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India, US to work together to get 'clean' NSG waiver :
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Mumbai/New Delhi: Amid concerns that any NSG waiver may come with strings attached, India expects an unconditional exemption for its nuclear commerce while the US said the two countries will stand "shoulder-to-shoulder" in their desire for getting a clean exception. With the 45-member Nuclear Suppliers Group (NSG) last week delaying a decision on the US draft for the Indo-US nuclear deal to move forward, India said it wants civil nuclear cooperation but not at any cost and asserted that it will not accept any "conditions". The NSG will meet for a second plenary in two weeks on September 4, 2008.
Energy Commission Chairman Anil Kakodkar said India will not allow itself to be "pushed" over the nuke deal and it will accept the waiver only if it is within the parameters of July 18, 2005 Indo-US Joint Statement. "India is looking for acceptable NSG exemption, clean exemption with no additional conditions and the parameters have to be within the parameters of July 18, 2005 understanding with the US," Kakodkar told reporters in Mumbai on Monday.
"Civil nuclear cooperation is important but that does not mean at any cost," he said. On suggestions that the NSG countries were trying to push India to accept a few changes in the draft, he said "civil nuclear cooperation is important and they may push India but India does not get pushed."
Affirming US' commitment to work with India in securing a "clean" waiver from the NSG, US Ambassador to India David C Mulford said the two countries will "continue our vigorous joint advocacy," including at the highest levels.
"The US and India stand shoulder-to-shoulder in their desire for a clean exception and we will continue to work with our Indian partners to persuade the NSG countries that such an exemption is in the international community's best interests," Mulford said in a statement in New Delhi.

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