RBI unlikely to hike repo rate in Oct despite weak INR: Study

September 21, 2018 16:15

Weakness in the rupee does not offer a sufficient alibi for a rate hike and the Reserve Bank may go for a status quo at the policy review next month, a Japanese brokerage said Friday. The markets have priced in tightening as well, but it is unlikely to materialise, Nomura said in a report. "Because of the RBIs inflation-targeting mandate, currency weakness in itself may not provide a sufficiently strong argument for rate hikes," its economists said. -- PTI

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