What do you expect from the RBI in its August policy to be announced on 05th August?

As the RBI gets ready to present the RBI policy announcement on 05th of August, the consensus expectation is that MPC may hike rates by 25-35 basis points. Remember, that the RBI has already hiked rates by 90 bps between May and June, apart from a CRR hike of 50 bps. With the Fed hiking by another 75 bps in July and hinting at another 100-125 bps in year 2022, RBI will not be too keen to put a wrong foot. In fact, some aggressive estimates peg the RBI to go as high as 50 bps rate hike in August to be a par with Fed hawkishness.