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Expect one more rate increase by RBI in October, says A Prasanna

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Expect one more rate increase by RBI in October, says A Prasanna

The Reserve Bank of India is expected to increase rate in its October monetary policy, A Prasanna, chief economist of ICICI Securities Primary Dealership, has predicted.

“We do expect one more hike in the near-term but we do think that they(RBI) may skip in August and hike in October," said Prasanna.
The macro data released on Thursday was a mixed bag with the June retail inflation rising to 5 percent, lower than estimates, while the May industrial production growth dropping to 3.2 percent.
“Inflation data was lower than our estimates as well as street estimates largely because of core inflation,” Prasanna said.
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