Das hints at rate cut; RBI presser turns a whimper

The RBI on Monday hinted at a rate cut but stopped short of a decision, belying market expectations at a hurriedly called presser even as it announced some liquidity enhancing measures to contain the economic fallout from the coronavirus.

But Governor Shaktikanta Das was quick to assure that the Reserve Bank has "enough policy tools and stands ready to take any measures" needed to help the economy tide over the impact of the coronavirus pandemic.

To a question why the rates were left unchanged at 5.15 per cent, Das said, "according to the prevailing law, the rate cut call has to be taken through the monetary policy committee, but I don't rule out anything. Depending on the evolving situation, we will decide on the timing of our action."