BUSINESS
Three of 21 economists said that the central bank's tightening should be less aggressive, while the rest said its recent policy action had been appropriate.
The Reserve Bank of India (RBI) has one or two interest rate increases in store for the rest of the fiscal year that ends in March, according to a poll conducted after the RBI raised rates for the fifth time this year on Thursday.
Most of 23 economists surveyed expect the RBI to raise key rates again by the end of March. Those who expect more tightening were split almost evenly between whether the Reserve Bank of India would lift key rates by 25 or 50 basis points, the poll found.
Of 23 analysts polled, four expect no further increase in the repo rate, or the rate at which the RBI lends, and three don't expect another increase in the borrowing rate, or reverse repo rate.
The RBI will review policy three more times this fiscal year.
The forecasts were little changed from a poll earlier this week, before the Reserve Bank of India on Thursday raised the repo rate to 6% and the reverse repo rate to 5%.
However, three of 21 economists said the central bank's tightening should be less aggressive, while the rest said its recent policy action had been appropriate.
In recent polls, economists who did not agree that policy action was appropriate had said that the RBI should be more aggressive.
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