RBI to hike repo rate by 50 bps for 3rd time in a row as rupee slumps

India’s central bank is expected to increase its policy rate by half a point for the third time in a row as the currency’s plunge to a record low this month complicates the battle against inflation.
 

The Reserve Bank of India’s six-member monetary policy committee will raise its repurchase rate by 50 basis points to 5.9%, according to 24 of 35 economists surveyed by Bloomberg as of Wednesday. Ten forecast the rate will rise by 35 basis points to 5.75%, while one sees a quarter-point increase.

Governor Shaktikanta Das may opt to dial up his hawkish rhetoric on Friday from