The RBI's Monetary Policy Committee has begun its October meeting with markets weighing a possible 25-basis-point repo rate hike to 5.50%. Rising crude prices, firm global yields and sticky inflation have left experts split over whether the move will begin a wider tightening cycle.

Of the 41 economists surveyed by Bloomberg, 35 expect the six-member Monetary Policy Committee to raise the benchmark repurchase rate by a quarter point to 5.50 per cent, with the remainder predicting no change.

Of the 41 economists surveyed by Bloomberg, 35 expect the six-member Monetary Policy Committee to raise the benchmark repurchase rate by a quarter point to 5.50 per cent, with the remainder predicting no change.

The Reserve Bank’s Monetary Policy Committee began its three-day meeting on Monday, October 5 and is likely to raise rates by 25 basis points

The meeting comes at a time when crude oil prices and global bond yields are rising, while inflation risks are also increasing. Economists are increasingly expecting a 25-basis-point hike in the repo rate.