Mumbai: A fortnight before the mid-quarter policy review, Reserve Bank of India (RBI) Deputy Governor Subir Gokarn hinted at a possible rate cut, prompting a rise in bond and share prices as the markets responded positively to the signal. Adding to optimism was the prospect of a normal monsoon, with the first rains of the season expected to make landfall in Kerala by 6 June. “Growth is somewhat lower than expectations and that may have (a) positive, moderating impact on core inflation. Two, oil prices have come off somewhat more than expected. Those are the two factors that suggest more room (for monetary policy),” PTI reported Gokarn as saying on the sidelines of an event in the city................
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