RBI's Calibrated Tightening Stance Aimed at Anchoring Inflation Expectations
Dow Jones
6 hours ago
0157 GMT - The Reserve Bank of India's surprise change in stance to a calibrated tightening from neutral was aimed at anchoring inflation expectations and building a buffer against adverse global conditions, say Nomura analysts in a note. The investment bank expects the RBI to deliver a second 25-basis-point rate hike in December and pause thereafter, contrasting with the market view of a prolonged hiking cycle. The RBI had raised its FY27 GDP growth and inflation forecasts to 7.1% and 5.2%, respectively, while lifting its one-year-ahead inflation forecast to 5.6%.
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