RBI likely to hike policy rates tomorrow to check inflation
India TV NewsHighlights RBI may hike policy rates in order to check inflation The hike may be between 25 to 35 basis points If happens, this will be third hike in the current fiscal year RBI rate hike: Days after the US Fed raised the interest rate, the RBI may go in for its third consecutive policy rate hike by at least 25 to 35 basis points in order to check inflationary pressure, experts said. With retail inflation ruling above 6 per cent for six months continuously, the RBI had raised the short-term borrowing rate twice so far this fiscal -- by 40 basis points in May and 50 basis points in June. "We now expect the RBI MPC to raise the policy repo rate by 35 bps on August 5 and change the stance to calibrated tightening," BofA Global Research report said. Hence, we expect that the RBI may hike rates by only 25 bps in Aug'22, followed by another 25 bps rate hikes in the next two meetings," it said.