Seven out of 10 see rate cut coming in July 30 review

The Reserve Bank of India’s policy review which stayed away from even a mention of a “reversal in policy stance” has led to a rise in hopes that the central bank may cut the repo rate by at least 25 basis points at its next policy review on July 30. Out of the 10 respondents in a Cogencis poll, seven expect the RBI to cut the repo rate on July 30, with six of these pining for a 25 basis point cut and one respondent expects a sharper 50 bps rate reduction. Just three respondents expect the RBI to maintain status quo on rates at its next policy review.............

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