Call grows for shift in RBI stance

 Ahead of Monetary Policy Committee's (MPC) statement on Friday, while marketing participants are certain about a rate hike, there are also growing calls for a shift in the central bank's stance. Economists and market watchers are divided on whether the Reserve Bank of India (RBI) will announce a change in the stance of monetary policy. According to a BS poll, the MPC is expected to raise the repo rate by 35-50 bps from the current level of 4.9%. This will take the policy rate past 5.15 per cent. It was 5.15 per cent before the RBI started cutting interest rates. Some economists expect the RBI's next move will be more future tightening. The given inflation remains well above the central bank's comfort zone.