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RBI Likely To Cut Interest Rate

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The Reserve Bank may go for another round of rate cut, third in a row, to prop up the economic growth which dropped to a five-year low in the final quarter of 2018-19, opined experts.

The RBI’s Monetary Policy Committee is slated to announce its bi-monthly policy on Thursday amidst Narendra Modi-led government starting its second term. The central bank had cut the short-term lending rate (repo rate) by 25 basis points each in its last two policy reviews.

The MPC headed by RBI Governor Shaktikanta Das will meet for three days beginning June 4 to firm up the second bi-monthly monetary policy of the fiscal.

India’s largest bank SBI in a recent research report had said that the RBI needs to go in for a larger rate cut, more than 25 basis points, in the next monetary policy review in June to reverse the current slowdown in the economy.

On expectations from the MPC, CII Director General Chandrajit Banerjee said the RBI needs to continue lowering interest rates in order to provide a stimulus to the economy.

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