MUMBAI: The Reserve Bank of India's rate-setting panel is likely to raise policy rates by 50 basis points at its meeting this week, economists said, as the dollar's strength derived from the US Federal Reserve's aggressive rate action has complicated the Indian central bank's efforts to ease rate hikes after raising them by 1.4% since May.
All 10 economists surveyed by Mint unanimously expect RBI's monetary policy committee (MPC) to hike the repo rate by 50 basis points to 5.9%, with the majority expecting a change in stance from "withdrawal of accommodation" to "neutral".
The unanimous expectation of a 50 bps hike is a departure from expectations of a 25-35 bps hike just weeks back by many economists. They had then expected the panel to ease the pace of rate hikes on slower-than-expected economic growth in the June quarter.
This story is from the September 26, 2022 edition of Hindustan Times.
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This story is from the September 26, 2022 edition of Hindustan Times.
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