According to a Reuters poll of economists, the RBI is most likely to increase interest rates in October to hold up on retreating rupee.
As against the survey conducted two months ago, which said that the interest rates would go unchanged for the last quarter of the year, economists polled that the repo rate would be raised at least once by the end of this year, 2018.
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A little more than half of the respondents said that Urjit Patel, RBI Governor and the Monetary Policy Committee would only raise 2 basis point to 6.75 percent while one economist said a 50 basis point would rise.
After lifting borrowing costs in June and August, this predicted rate hike would be the RBI’s third hike for this year.