RBI to hike repo rate in June, earlier than previously thought: Poll

RBI Repo rate hike: Retail inflation will likely soar further as a spike in global energy prices since Russia's invasion of Ukraine seeps into consumer prices

The Reserve Bank of India will raise its repo rate in June and hike at a faster pace than predicted just a few weeks ago as a surge in inflation puts pressure on the central bank to act quicker, a Reuters poll showed on Tuesday.

Retail inflation accelerated to nearly 7 per cent in March, above the 6 per cent upper limit of the central bank's targeted range, and will likely soar further as a spike in global energy prices since Russia's invasion of Ukraine seeps into consumer prices.

The Monetary Policy Committee (MPC) kept its key rate at a