New Delhi, Oct. 7 -- The Reserve Bank of India is set to announce its monetary policy decision on Wednesday, with economists divided over whether the Monetary Policy Committee will raise the repo rate immediately or wait until December, even as most expectations point to a tightening cycle of up to 75 basis points amid rising inflation risks and global uncertainty.

The MPC's three-day meeting, being held from October 5 to 7, comes after it kept the repo rate unchanged at 5.25 per cent in August and retained a neutral stance, citing the need for greater clarity on the inflation outlook and evolving growth-inflation dynamics.

Ahead of Wednesday's decision, Crisil Chief Economist Dharmakirti Joshi has backed an immediate rate increase, whi...