RBI Governor Highlights: After RBI’s surprise move, all eyes on US Fed meeting outcome amid expectation of a 50 bps rate hike: Religare Broking's Ajit Mishra

persist and there are no shocks to growth, interest rates will likely be hiked later this year, analysts said.

Most economists expect the RBI’s monetary policy committee (MPC) to change its stance to ‘neutral’ in June and follow up with an increase in the key policy rate, which could be the first in a series of hikes this year.