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RBI to hold key rate at June policy meet; may cut 25 bps in August: BofAML

Says growth remains weak, inflation is within 2-6% range, rate cut would help recoup forex reserves

Press Trust of India  |  New Delhi 

The Reserve Bank of India (RBI) is expected to hold the key rate at its monetary policy review next month but may opt for a 25 bps cut in August, says a Bank of America Merrill Lynch (BofAML) report. The global brokerage cited three reasons for the central bank to cut rates in August. First, the growth remains weak, second, inflation remains within RBI's 2-6 per cent range and a rate cut would help RBI to recoup forex reserves. "As it has just hardened its stance, the RBI will likely wait for transfer of the 'special' dividend to the fiscal from demonetisation and ...

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First Published: Wed, May 03 2017. 16:13 IST