“The MPC’s actions are in line with the current global inflation scenario and has leaned in favour of anchoring inflationary expectations to work out solutions to decipher the growth potential of the economy. The tone of the policy continues to be aggressive. The hike in repo rate by 50 basis points to 5.4% to pre-pandemic levels does not come as a surprise. RBI’s actions and efforts are to largely surmount the global headwinds that are driving inflation and to ensure inflation remains within target going forward.”