Mumbai, Oct. 8 -- The Reserve Bank of India's (RBI) hawkish monetary policy stance reflects growing concerns over broad-based commodity inflation and global market volatility, Anindya Banerjee, Head of Commodities Research at Kotak Securities, said in an exclusive interview with ANI.

Banerjee said the shift from a neutral stance to calibrated tightening indicates that further interest rate hikes could be on the way.

He said the RBI could opt for a gradual 25-basis-point rate hike in December or consider a sharper 50-basis-point increase, depending on the inflation and economic outlook.

With consumer price inflation (CPI) projected at around 6 per cent, the inflation outlook will largely depend on energy and raw material costs, which ar...