RBI unlikely to hike rates, says report

New Delhi: The Reserve Bank of India is unlikely to hike interest rates at its upcoming Monetary Policy Committee meeting next week unless crude oil prices sustain above $100 per barrel, a report said on Thursday.

With “base case of oil averaging $80 per barrel in 2026, we expect no rate hikes”, an HSBC Global Investment Research report said, adding that an interest rate defence for the rupee could prove costly if the growth drag from higher oil prices becomes non-linear and intensifies quickly.