New Delhi, Sept. 15 -- The Reserve Bank of India (RBI) may consider two calibrated 25-basis-point rate hikes at its October and December Monetary Policy Committee (MPC) meetings as inflation becomes more broad-based and higher crude oil prices intensify imported price pressures, according to an SBI Research report.

SBI Research expects consumer price inflation to breach 6.5 per cent in the coming months before easing below 6 per cent in early 2027, making a case for the central bank to build a policy buffer against emerging inflationary risks.

"Going forward, we believe CPI inflation may cross the 6.5% mark before dropping to less than 6% in early 2027. Time to build moats through a 25-bps hike in October and Dec MPC each, and then to p...