Pranjul Bhandari, Chief India and ASEAN Economist at HSBC, has stated that the Reserve Bank of India (RBI) is likely to keep interest rates unchanged during its June policy meeting. This decision comes as the RBI faces dual challenges: rising energy prices and the potential impact of El Niño, which could exacerbate supply-side pressures. Bhandari emphasized the delicate balance the central bank must strike between controlling inflation and supporting economic growth. She noted that while the RBI needs to address inflation, aggressive measures could hinder economic activity. The economist also indicated that any shift towards tightening monetary policy through rate hikes would likely be postponed until the energy crisis shows signs of improvement, particularly with global supply chains stabilizing and oil prices declining. For now, Bhandari anticipates that interest rates will remain steady, with any potential changes expected later in the year, contingent on the resolution of current economic pressures.