The Reserve Bank of India's monetary policy committee (MPC) will likely announce the first rate hike of the new financial year this week in light of sustained inflationary pressure, a Mint survey showed.
Thirteen of the 15 economists in the survey expect the rate-setting panel to raise the repo rate by 25 basis points to 6.75% before pausing interest rate changes for the rest of the year. However, economists from State Bank of India and Nomura expect a pause to start with the April policy itself.
Most economists also expect the MPC to keep the policy stance unchanged at "withdrawal of accommodation". Only three economists expect a change in stance to neutral.
The panel is expected to announce its policy decision following a three-day meeting ending on 6 April.
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