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Govt wants RBI rate cut before March: Finance Ministry sources

We expect the RBI to cut policy rates, if not in December then in its next policy review: Finance Ministry

Reuters  |  New Delhi 

Impatient for faster economic growth, India's government is lobbying for a reduction in official interest rates in coming months as it expects inflation to stay close to a 4 percent target, finance ministry officials said. At its last meeting in October, the Monetary Policy Committee (MPC) left the repo rate at 6.0 percent, near a seven-year low, and a Reuters poll found that economists expected the rate to stay there through to the second quarter of next year. The finance ministry, according to officials, wants a rate cut sooner than that, putting a focus on the MPC ...

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First Published: Wed, November 29 2017. 00:58 IST