Food inflation on Ukraine crisis could force RBI's hand on rates: Economist

The RBI would like to keep interest rates unchanged for a while longer and not put any roadblocks in front of the Indian economy, says Moody's Analytics' Steve Cochrane

Reserve Bank of India could raise interest rates if food prices spike on the back of a rally in commodities due to the Ukraine crisis, Moody's Analytics' Steve Cochrane said on Wednesday.

The conflict in Ukraine is threatening global grain production and the supply of edible oils and fertiliser exports, sending basic commodity prices rocketing.

Last month, the Reserve Bank of India stuck to its accommodative policy stance to help the economy recover from pandemic lows, keeping the key lending rate at record lows.

"The RBI would like to keep interest rates unchanged for a while longer and not put any roadblocks in