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RBI hikes repo rate by 0.25 percent

Mumbai (IANS):In a surprise move, the Reserve Bank of India (RBI) Friday hiked its key policy rate by 0.25 percent, a move that will make housing, auto and other loans costlier.

In the mid-quarter review of the monetary policy for fiscal 2013-14, the central bank increased repurchase or repo rate by 0.25 percent to 7.5 percent.

The reverse repo rate was hiked to 6.5 percent from 6.25 percent.

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