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RBI likely to announce cut in interest rate today
Economy

RBI likely to announce cut in interest rate today

Agency News

The Reserve Bank of India (RBI) is expected to announce a reduction of 25 basis points (0.25 per cent) in the key interest rate to 6 per cent on Thursday.

The central bank is due to release its first bi-monthly policy statement for financial year 2019-20 at 11.45 am. The six-member Monetary Policy Committee (MPC), headed by the RBI governor, has begun its three day review on Tuesday. Thursday's policy statement marks the last before the general election due later this month.

Any reduction in the repo rate, the key interest rate at which the RBI lends short-term funds to commercial banks, would mark the second reduction so far this calendar year, and also the second under Governor Shaktikanta Das, who assumed office in December last year.