RBI to strike less hawkish tone while standing pat

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The Reserve Bank of India is likely to keep interest rates unchanged at a review on June 7, but with inflation well below target its policy statement is likely to sound less hawkish than when the monetary policy committee last met.

The RBI has sprung several surprises since the MPC was formed last year to include the views of government and non-central bank officials. But the poll, conducted over the past week, suggested most economists saw little chance of being caught out this time.

An overwhelming majority, 56 of 60 surveyed, expected the committee to leave the repo rate, its main policy rate, unchanged at 6.25 percent, where it has been for the past six months.

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