The Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC) is likely to announce a 25-basis-point (bp) increase in the repo rate on Wednesday, in a bid to bring inflation closer to the central bank's target of 4 per cent, according to economic experts.
According to the median of a Business Standard poll comprising 10 respondents, the MPC is seen raising the repo rate to 6.50 per cent in the upcoming meeting, taking the benchmark policy rate to its highest level since February 2019. The mode of the poll also suggested a 25-bp rate hike.
The rate-setting panel, according to several experts, is likely to signal a pause in rate hikes going ahead, given that domestic inflation has eased over the past couple of months and is now within the RBI's tolerance band of 2-6 per cent.
Only two respondents predicted a pause in rate tightening; all the others were unanimous about the quantum of the rate hike being 25 bps.
This story is from the February 06, 2023 edition of Business Standard.
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This story is from the February 06, 2023 edition of Business Standard.
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