 "clear cut Going by RBI Governor Shaktikanta Das’ explanation of the accommodative stance in his post-policy media conference, any rate hike is “off the table” for now")
The suspense is over. Staring at a faltering growth and encouraged by tamed inflation, the central bank in Asia’s third largest economy yet again announced a 25 basis points rate cut on Thursday at the end of three-day meeting of its rate-setting committee — the third time in a row. One basis point (bps) is a hundredth of a percentage point. It has also changed the stance of the monetary policy, from neutral to accommodative.
More than the rate cut, the bigger takeaway from the Reserve Bank of India’s (RBI’s) second bi-monthly monetary policy in fiscal year 2020 is the change
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