Udaipur (Udaipur Kiran News): Commenting on the Reserve Bank of India’s latest Monetary Policy, Sakshi Gupta, Chief Economist at HDFC Bank, said that there is now space for further policy easing, supported by the continued moderation in domestic inflation.

She noted that the RBI delivered a well-balanced policy, keeping the policy rate unchanged amid rising global uncertainties, even as the positive effects of recent GST cuts begin to unfold. The central bank adopted a patient and data-driven approach, waiting for more clarity before taking any decisive action.

However, Gupta highlighted that the scope for rate cuts has now opened up, given the sustained decline in inflation levels.

Looking ahead, she added, “A rate cut in December is not a given yet and will depend on tariff outcomes and the strength of domestic consumption during the festive season. In the absence of any resolution on the tariff front or further escalation over the coming months, we expect the terminal policy rate to move to 5% in FY26.”

HDFC Bank’s projections suggest that India’s GDP growth could stand at 6.6%, while inflation is expected to average around 2.5% in FY26.