With crude oil prices touching $80 per barrel and core inflation rising, economists have revised their expectations from the Reserve Bank of India (RBI), ahead of a crucial meeting of its monetary policy committee (MPC) on 4-6 June. While some economists expect the MPC to assume a more hawkish tone, others expect a 25 basis points hike in key policy rates. Minutes of MPC’s April meeting revealed how some members had signalled a more hawkish stance.

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