Indian shares struggle for direction ahead of RBI rate decision
shares gains and losses on Wednesday ahead of expected rate hike decision by central bank, which is trying to bring down inflation from an eight-year high while also keeping an eye on slowing economic growth.
unscheduled 40 basis point repo rate hike in May to 4.40%, economists polled by Reuters expect the Reserve Bank of India (RBI) to raise it by 25 to 75 basis points on Wednesday.
While inflation looks set to remain elevated, mainly driven by high global energy and food costs, economic growth prospects have started to look bleak.