RBI to hike rates in June policy: Report
The global brokerage had said earlier that it expected RBI to maintain an extended pause and start the rate hike cycle only from the beginning of next year. Following the surge in global crude oil prices in recent weeks, the RBI may now prefer to opt for a rate hike sooner than later, the report said
The six-member MPC, headed by RBI Governor Urjit Patel, had left the benchmark repo rate unchanged for the third time in a row after deliberations on April 4-5, citing inflationary concerns.Image source: Reuters