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Case for MPC to pause exists amid calls for one final repo rate hike

As one would expect, the Reserve Bank of India (RBI) is widely seen delivering one final interest rate hike on April 6. The central bank's Monetary Policy Committee (MPC), which began its three-day meeting on April 3, is expected to increase the repo rate by 25 basis points to take the repo rate to 6.75 percent.

One basis point is one-hundredth of a percentage point.

It does not take much to come up with reasons to back the market view that the MPC will, later this week, raise the repo rate for the seventh time in less than a year. Headline retail inflation, after all, has rebounded to 6 percent-plus levels again and may exceed the RBI's forecast of 5.7 percent for January-March by as much as 50 basis points.

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