..........Markets should not rule out a 50 basis point (bps) repo rate cut that day, though the RBI had sounded caution on further cuts in its March policy review where it cut the repo rate by 25 bps. At that time, the central bank was worried on food inflation, which was trending at 11.38%, leading to higher consumer price inflation and current account deficit (CAD) hitting record high levels. RBI’s concern on inflation and CAD remains, but indications are that both the measures are likely to trend down, going forward............
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