RBI to announce second bi-monthly monetary policy today
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Reserve Bank of India will announce its second bi-monthly monetary policy for current fiscal year in Mumbai this morning.
The three day meeting of the monetary policy committee (MPC) began on Tuesday amid expectations of a third straight rate cut of 25 basis points.
The key lending rate or the repo rate currently stands at 6 percent. AIR reports correspondent that it is believed that RBI has enough room to cut rates further as inflation has remained below the RBI's medium-term goal at 4 per cent.
The CPI inflation for April 2019 stood at 2.92 percent.
The rate cut is also likely to revive the economy that is going through a slowdown.
The only constraining factor for the apex bank could be the unwillingness of banks to pass on the rate cut benefits to customers. #casansaar (Source - NewsOnAir)
The three day meeting of the monetary policy committee (MPC) began on Tuesday amid expectations of a third straight rate cut of 25 basis points.
The key lending rate or the repo rate currently stands at 6 percent. AIR reports correspondent that it is believed that RBI has enough room to cut rates further as inflation has remained below the RBI's medium-term goal at 4 per cent.
The CPI inflation for April 2019 stood at 2.92 percent.
The rate cut is also likely to revive the economy that is going through a slowdown.
The only constraining factor for the apex bank could be the unwillingness of banks to pass on the rate cut benefits to customers. #casansaar (Source - NewsOnAir)
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