(News18)
The Reserve Bank of India is likely to in the next few hours deliver its fifth reduction in key interests, given the consumer inflation remained in comfort zone of the RBI’s medium-term goal for 13 months in a row. Today’s repo cut will become the fifth so far this year delivered by the six-member Monetary Policy Committee, chaired by the central bank Governor Shaktikanta Das.
In four bi-monthly reviews this calendar year, the MPC has reduced the repo rate – the key rate at which the RBI lends short-term funds to commercial banks – by 1.1 percentage point amounting to 110 basis points in aggregate. At its last meeting in August, the Monetary Policy Committee (MPC) reduced the benchmark lending rate by an unusual 35 basis points to 5.40 per cent.
