RBI's MPC starts 3-day deliberations amid speculation of rate hike

There are speculations that the central bank may go for at least 35 basis points (bps) hike over and above the 40 bps hike effected last month after an off-cycle MPC meeting

The RBI's rate-setting panel MPC on Monday began its three-day deliberation amid expectations of another round of hike in benchmark interest rates to contain inflation that continues to remain above the central bank's upper tolerance level.

RBI Governor Shaktikanta Das will announce the decision of the Monetary Policy Committee after deliberations on Wednesday.

Das has already indicated that there may another hike in the repo rate, though he refrained from quantifying it.

There are speculations that the central bank may go for at least 35 basis points (bps) hike over and above the 40 bps hike effected last month after an off-cycle MPC