RBI to keep rates on hold in October and through next year but cut growth forecast

So say economists in the latest poll conducted by Reuters 27 Sept

  • poll of 60 economists suggests the RBI will hold key repo rate at 7-year low of 6% next week
  • reverse repo rate of 5.75% expected to remain over same period
  • 36/47 economists expect GDP forecast to be cut again following disruptions caused by new tax system introduced on 1 July
  • 30/49 say there’s a chance inflation overshoots RBI 4% mid-term target this year

In August despite a neutral policy bias the RBI cut key policy rate after lowering GDP f/c in June to 7.3% vs 7.4% prev

USDINR currently 65.53


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