New Delhi, Oct. 22 -- SBI Research has retained its forecast of a 50-basis-point repo rate hike in December, citing persistent inflationary pressures, elevated crude oil prices and the Reserve Bank of India's (RBI) shift towards a tighter monetary policy stance, even as the central bank has ruled out rate cuts in the near term.

In its report analysing the October Monetary Policy Committee (MPC) minutes, SBI Research said the Governor's communication showed a greater focus on future risks and the possibility of further tightening.

"We continue to maintain 50 bps rate hike in December either through a plain vanila 50 bps repo rate hike or an exotic 50 bps rate hike with a 25 bps repo rate and a 25 bps asymmetric widening of LAF corridor,"...