Amidst high food inflation, falling industry output and uncertain crude oil prices, the Reserve Bank of India hiked key policy rates by 25 basis points in its mid-quarterly review today. With this, the repo rate now stands at 6.75 per cent from 6.5 per cent, while the reverse repo rate is at 5.75 per cent from 5.5 per cent with immediate effect. However, the CRR has been left unchanged at 6 per cent. In the last monetary policy review, RBI Governor D Subbarao raised policy rates by 25 basis points meeting market expectations.RBI had raised policy rates seven times since March, 2010, with a hike of 175 basis points in short-term lending (repo) rate and 225 basis points in short-term borrowing (reverse) repo rate in its bid to arrest inflation.