1 week, 6 days ago

RBI to slash interest rates on April 9, once more in August in shortest easing cycle on record: Report

The Reserve Bank of India will cut interest rates at a second straight meeting on April 9, with just one more cut expected in August, which would mark the shortest easing cycle on record, a Reuters poll of economists found. A strong majority of economists, 54 of 60 in the March 18-27 Reuters poll, expected the RBI to cut its benchmark repo rate by 25 basis points to six per cent at the conclusion of its April 7-9 meeting. Shallowest rate-cut cycle ever Median forecasts in the Reuters poll showed the RBI will keep interest rates at six per cent in the June 4-6 meeting. With 75 basis points in rate cuts, this cycle will be the shortest easing cycle since early 2000, when the RBI began using the repo rate as its main policy tool.

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