Eleven of 14 economists polled by ET expect the Reserve Bank of India (RBI) will not cut the policy rate further in the coming months. The RBI’s Monetary Policy Committee (MPC) kept the policy rate steady at 5.25% on Friday after reducing it by 125 basis points over the past year. Improved growth prospects from proposed trade deals with the USA and the European Union ease pressure on the RBI to lower rates. Amit Somani, deputy head of fixed income at Tata Asset Management, said, "The upward revision of inflation and GDP growth forecast gives a hawkish tilt to the policy and indicates monetary policy easing is largely behind us." Of the 11 economists expecting the rate to stay at 5.25%, six believe RBI will closely watch growth and inflation trends. They point to uncertainty around new GDP base years, which masks true growth momentum and suggests a prolonged pause in rate cuts. The RBI revised GDP growth projections for Q1 and Q2 of FY27 up by 20 basis points each, to 6.9% and 7%, respectively. Inflation forecasts were also increased, with FY26 inflation now at 2.1% (up from 2%), and CPI for the current quarter projected at 3.2% (up from 2.9%). Upasna Bhardwaj, chief economist at Kotak Mahindra Bank, noted, "While uncertainty remains on the growth-inflation figures as we await the new series, the uptick in commodity prices and weaker currency may pose upside risks to inflation." However, a small group of economists expect one final rate cut of 25 basis points to 5%. They cite possible slowing growth with new GDP base years and geopolitical risks. Sachin Bajaj, chief investment officer at Axis Max Life Insurance, said, "We anticipate a final 25 basis point cut in the repo rate to 5% during the early part of the next financial year to address growth concerns emanating from the uncertain global environment." Nomura also sees a 65% chance of one more cut, waiting for new CPI and GDP data to assess the impact. The RBI’s recent hold on policy rate signals caution amid rising inflation and improving economic activity.