There can only be rate hikes or pause in the future, no cuts: RBI Governor

RBI Governor Sanjay Malhotra ruled out interest-rate cuts in the near term, saying that further policy action would involve a rate hike or a pause, depending on evolving conditions. The central bank on Wednesday hiked repo rate by 25 bps to 5.5%, marking the first hike in nearly four years. It also shifted its stance to "calibrated tightening" from "neutral".