According to the global financial services major, there is room for an accommodative policy stance by RBI next week, although the scope for further rate cuts is unlikely given global price.
RBI Monetary Policy Latest Updates: RBI changes monetary policy stance from neutral to accommodative. The central bank cuts benchmark lending rate by 0.25 percent to 5.75 percent. The Reserve Bank will go for an unconventional 0.35 percent cut in its key lending rate at the forthcoming review on Thursday as inflation is within its comfort range.
The Reserve Bank of India cut its policy interest rate by 25 basis points in a widely expected move on Thursday, while also changing its monetary policy stance to "accommodative" after the economy grew at its slowest pace in over four years in the January-March quarter.
MANGALURU: The 25 basis points cut in the benchmark lending rate by RBI is a welcome measure. equally significant is that the central bank has shifted its stance from ‘neutral’ to ‘accommodative.
Home / International/ India’s central bank cuts rates, The Reserve Bank of India cut its policy interest rate by 25 basis points in a widely expected move on Thursday, while also changing its monetary policy stance to “accommodative” after the economy grew at its slowest in over four years.
The Reserve Bank of India’s change in monetary policy stance effectively equates to an additional 25-basis-point (bps) rate cut, Governor Shaktikanta Das was reported as saying. Das also said.
The Reserve Bank of India has surprised money market participants with a larger-than-expected reduction in policy rates. The apex bank slashed its key policy rate, repo rate, by 35 basis points or 0.35 per cent. Most money market participants were expecting the banking regular to cut rates by 25 basis points. However, the central bank maintained its accommodative monetary stance and retained the inflation outlook.
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Reserve Bank of India RBI’s change in stance as good as additional 25 bps rate cut: shaktikanta das. While the RBI has cut rates 75 bps since the start of 2019, banks have only eased their key rate by 15-20 bps.