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360 ONE Asset Senior Economist Vikram Chhabra on RBI Policy
This story was originally published at 12:05 IST on 5 August 2026
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MUMBAI - Vikram Chhabra, senior economist, 360 ONE Asset, said the following on the Reserve Bank of India's third bi-monthly monetary policy statement for 2026-27 (Apr-Mar) detailed Wednesday:
The macroeconomic outlook remains uncertain with the West Asia conflict fuelling volatility in crude oil prices, while strengthening El Nino conditions raise the risk of a weaker monsoon. These factors pose challenges to both growth and inflation. Against this backdrop, the RBI's decision to adopt a wait-and-watch approach at its August policy meeting was appropriate.
If the geopolitical situation stabilises and the monsoon remains close to normal, we expect the RBI to keep rates unchanged for an extended period. However, if crude oil prices remain elevated and a weak monsoon disrupts agricultural output, driving up food inflation, the RBI may be compelled to raise interest rates by the end of FY27. End
Compiled by Diksha Tripathy
Filed by Akul Nishant Akhoury
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