New Delhi, April 16 -- The interest rates could see an upward movement if crude oil prices stabilise above USD 90 per barrel, amid rising inflationary pressures driven by global geopolitical tensions highlighted a report by Union Bank of India.

The report noted that while the current stance remains a prolonged pause on policy rates, the outlook could change depending on the trajectory of inflation and global commodity prices.

"At present, we maintain our view of a prolonged pause on rates with a close watch on inflation trends. However, if oil prices stabilise above USD 90 per barrel, we see the possibility of a rate hike," the report stated.

It added that consumer price inflation (CPI) for FY27 is likely to move sharply higher and rem...