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RBI's June policy a close call, tone to remain hawkish: UBS

RBI's June policy a close call, tone to remain hawkish: UBS

Finance
The Monetary Policy Committee (MPC) is expected to maintain the repo rate at 6 per cent in the ensuing policy review meeting next week, however, there is also a probability of a pre-emptive hike by 25 bps, says a UBS report. According to the global financial services major, the June policy review meeting is likely to be a close call, while the tone of the policy statement is expected to remain hawkish. "In its monetary policy review, scheduled for 4-6 June, we expect the MPC to maintain the repo rate at 6 per cent. However, we assign a 40 per cent probability that the MPC will pre-emptively hike rates by 25 bps in the meeting," Tanvee Gupta Jain, Economist, UBS Investment Bank said in a research note. In its first bi-monthly monetary policy for 2018-19, RBI left repo rate unchanged at 6...