Nomura sees RBI hike in December after stance shift

Nomura says the Reserve Bank of India’s surprise move to a calibrated tightening stance from neutral was meant to anchor inflation expectations and build a buffer against adverse global conditions. The bank expects a second 25-basis-point rate hike in December, then a pause, and notes the RBI raised its FY27 GDP growth forecast to 7.1% and inflation forecast to 5.2%.