Timelines for an interest-rate increase by the Reserve Bank of India (RBI) are gradually being pushed further back, with economists now visibly tilting toward the second half of FY27 for any rate tightening instead of earlier expectations of a decision by monetary policymakers in the August review itself. This assessment by economists, despite some concerns about wholesale prices, inflationary pressures and rate increases by several other central banks, is driven by two key factors. First, coordinated measures announced by the government and the RBI are expected to attract sizable foreign currency inflows, likely easing the pressure on the rupee. Second, the recent moderation in crude oil prices, after the US and Iran agreed to a broad peace framework, has reduced upside risks to inflation while also underpinning growth, economists said.