RBI may refrain from policy rate cut, says ICRA

The fourth bi-monthly monetary policy statement is scheduled to be released on October 4.

There is a possibility of a further rise in retail inflation, which may stop the Reserve Bank of India (RBI) from slashing the policy repo rate in the upcoming monetary policy review, said a rating agency ICRA.
 
The fourth bi-monthly monetary policy statement is scheduled to be released on October 4.
 
The agency expects the Monetary Policy Committee (MPC) to leave the repo rate unchanged at 6 per cent. 
 
The baseline forecast for gross value added (GVA) growth for FY18 may be revised lower from the 7.3 per cent estimated in earlier statements.
 
The year-on-year (y-o-y) CPI inflation has recorded a rise to 3.4 per cent in August 2017 from 1.5 per cent in June 2017.
 
Source: BusinessLine

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