The second quarter monetary policy review coming up in September is likely to bring with it another hike in key policy rate by monetary watchdog, RBI.

This projection has been made by consultancy firm Dun & Bradstreet. ``In order to tackle the mounting inflationary pressures, we expect that the RBI would further tighten its monetary policy stance in the mid-quarter review of monetary policy scheduled in September,`` Dun & Bradstreet(D&B), India Senior Economist Arun Singh said.

The major focus of RBI now is to control the continuing pressure of towering inflation. The banking regulator has increased policy rates, repo and reverse repo by 50 bps and 75 bps respectively in a span of three months.

The repo rate (rate at which RBI lends money to commercial banks) is at 5.75% while reverse repo rate (rate at which banks park their excess funds with RBI) is at 4.50%.