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Morgan Stanley says oil at $110 could prompt RBI to hike rates again
Morgan Stanley warns that if oil prices remain at $110 a barrel, it could destabilize India's economy and force the central bank to raise interest rates. India is highly vulnerable to rising crude prices as it is the third-largest consumer of oil. A $10 increase in oil prices leads to higher inflation and widens the current account balance. If oil prices rise above $110, it would result in higher domestic fuel prices, inflationary effects, and a widening current account deficit.
Morgan Stanley warns that if oil prices remain at $110 a barrel, it could destabilize India's economy and force the central bank to raise interest rates. India is highly vulnerable to rising crude prices as it is the third-largest consumer of oil. A $10 increase in oil prices leads to higher inflation and widens the current account balance. If oil prices rise above $110, it would result in higher domestic fuel prices, inflationary effects, and a widening current account deficit. 
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